Athletic Club have wanted Arsenal’s Spain midfielder for almost a decade, and they could finally make their move next summer, although Atlético Madrid are lining up a January offer that would beat them to it.
According to Bilbao Hiria, Athletic could join the race for Mikel Merino if they qualify for European football this season. The extra money would make a deal worth around €30m (£25m) realistic for the Basque club.
The 30-year-old has struggled to get regular starts under Mikel Arteta this term. He has played 491 minutes across 14 appearances, an average of just over 35 minutes a game, and his contract at Arsenal runs until June 2028.
Why Athletic Club want Merino
He fits their recruitment policy perfectly. Merino was born in Pamplona and came through the academy at Osasuna, which keeps him inside the pool of players Athletic are willing to sign.
The Bilbao side were already keeping an eye on his situation at Arsenal in September. There is no suggestion of an offer or talks with the Gunners yet, and their plans depend on how the rest of their season goes, because European qualification, and the money that comes with it, won’t be settled until the end of May.
Merino’s price has dropped, too. His valuation reportedly reached €40m (£33.3m) after his performances at the World Cup, and the range now being discussed is €30m to €40m (£25m to £33.3m). Athletic’s figure sits at the bottom of that.
The 2017 deal Newcastle took from them
This would not be Athletic’s first try. In 2017 they were close to signing Merino from Borussia Dortmund for around €8m (£6.7m), only for Rafa Benítez’s Newcastle United to step in and get the deal done.
He went back to Spain a year later, and Athletic missed out again, with Real Sociedad winning the race that time. His name has come up in Bilbao every time his contract situation has changed since.
Atlético Madrid could move first
The problem for Athletic is timing. Diego Simeone wants another midfielder, and Atlético’s sporting director Mateu Alemany is exploring a January loan with an option to buy, which would let them bring Merino in without paying the full fee straight away. The purchase option is reportedly being looked at around €30m (£25m).
Athletic would almost certainly have to wait until the summer, so Atlético have a head start. Earlier reports from Spain suggested Merino would consider leaving if his minutes don’t improve, with a return to La Liga his preferred route.
He isn’t the only Spaniard in Arteta’s midfield with a decision to make. Martín Zubimendi is also ready to consider a January exit, and the competition next to Declan Rice has only got tougher, as the case for Myles Lewis-Skelly in midfield showed before Prague.
Should Arsenal let Merino go in January?
I’d be wary of a January loan. Arsenal are fighting on several fronts, and an experienced squad player who knows exactly what the manager wants is worth more to Arteta in February than a loan fee that only turns into real money later.
A permanent sale in the summer makes far more sense. Merino is 30, his value is falling, and £25m for a player on 35 minutes a game is decent business. If Athletic qualify for Europe and come in at that price, Arsenal should listen, and after nine years of trying, it would be a fitting place for him to end up.
