Arsene Wenger seem to have woken up from his transfer market slumber that has seen him completed two deal within this week and going for a third.
According to reports, Arsenal are closing in on the signature of Paraguay born attacking midfielder, who laces his boots for Lanus in Argentina.
TuttoMercatoWeb report in an exclusive that Arsenal are looking into spending €13 million (£11.1 million) on the player before the transfer window closes.
This week has seen Arsenal become more pragmatic in the transfer market than their rival club. Arsenal have agreed deals with La Liga outfits for Lucas Perez and Shkodran Musatfi.
Miguel plays plays an attacking midfielder and so it is difficult to see how he would fit into the other star studded midfield of Arsenal.
He has just one cap for the Paraguay national team so if Arsenal were to sign him it would seem unlikely he would be rewarded a work permit, and would likely be loaned out by the club.