The 26-year-old Real Sociedad midfielder, long admired for his composure and tactical nous, remains unsigned, leaving the door ajar for a late intervention from the Spanish giants.

Zubimendi, a Spain international, rejected a move to Liverpool last summer despite the Reds activating his 60 million euros release clause, opting to stay with his boyhood club. However, recent developments suggested a change of heart, with Arsenal securing a verbal agreement for his signature.

Transfer expert Fabrizio Romano confirmed the breakthrough, stating on X: "Arsenal agree deal to sign Martin Zubimendi from Real Sociedad, here we go! Zubimendi has now verbally agreed to sign a long-term deal… formal steps must follow soon with Arsenal to trigger 60 million euros clause."

The Gunners, under sporting director Andrea Berta, viewed Zubimendi as the cornerstone of their summer rebuild. With the midfielder seemingly secured, Arsenal shifted focus to other targets, including Sporting CP's prolific striker Viktor Gyokeres, Chelsea's Andrey Santos, and Athletic Bilbao's dynamic winger Nico Williams.

However, the lack of a signed contract has exposed vulnerabilities in the deal, and Real Madrid are ready to pounce.

Alonso, appointed last week to succeed Carlo Ancelotti at the Santiago Bernabeu, has identified Zubimendi as a priority target. Sources close to the situation, as reported by AS, described the midfielder as a "fetish player" for Alonso, whose playing style mirrors Zubimendi's intelligent, deep-lying orchestration.

"There is nothing signed," AS noted, adding, "Operation Zubimendi is latent… That's the time Madrid have to get into the operation. When this happens, few players resist it."

The allure of joining Real Madrid, coupled with the chance to work under Alonso, could prove irresistible for Zubimendi. The Basque-born star has long been linked with a move to Spain's elite clubs.

Arsenal's optimism, fueled by Mikel Arteta's long-standing admiration for Zubimendi, now hangs in the balance. The Gunners have planned for the midfielder to anchor their engine room, allowing Declan Rice to push forward. But with both the Premier League and La Liga seasons concluded, the coming days will be critical.

"In the next few hours, there will be a final outcome," AS reported, signaling a potential transfer saga reminiscent of Zubimendi's Liverpool flirtation last summer.

Real Madrid's interest extends beyond Zubimendi, with Alonso reportedly eyeing Bournemouth's Dean Huijsen and expressing interest in Barcelona's Pedri, according to recent X posts and reports. Yet, it's the pursuit of Zubimendi that could define their early transfer window, setting the tone for Alonso's ambitious rebuild.

For Arsenal fans, the prospect of losing their prime target to Real Madrid's pulling power is a bitter pill. Zubimendi's decision will hinge on whether he prioritizes Arteta's vision or the chance to shine under Alonso at one of football's grandest stages.

The clock is ticking, and the football world awaits the next chapter in this gripping transfer battle.

Report: Real Madrid poised to hijack Arsenal's Martin Zubimendi deal in dramatic transfer twist