Arsenal target Ivan Fresneda has seen his release clause reduced after his current side, Real Valladolid, suffered relegation from La Liga.
Fresneda was heavily linked with a move to the Gunners in January after a breakout campaign in La Liga.
Arsenal submitted a bid of £13 million - matching an offer made by Borussia Dortmund - for the right-back, but Fresneda turned down both offers in favour of staying at Valladolid. His agent told AS that 'around 30 clubs' were interested in his services.
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The 18-year-old went on to feature regularly for the Spanish side in the second half of the campaign, but could not help them to stay in La Liga for another season.
Valladolid suffered relegation on the final day of the campaign on Sunday, drawing 0-0 at home to Getafe. A win would have ensured their safety.
Their drop to the second division of Spanish football has created fresh doubt over the future of one of their biggest talents - and Arsenal have been handed a fresh boost in their pursuit of the defender.
Fresneda release clause 'reduced'
As are the regulations in the top divisions of Spanish football, Fresneda's Valladolid contract contains a release clause.
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It had been set at €40 million (around £34.4 million), which would have been the price Arsenal needed to pay in order to directly enter negotiations with the right-back.
However, according to Spanish outlet Relevo, that release clause has been halved to €20 million following Valladolid's relegation to the second tier.
It is reported that Fresneda's contract contained a series of variables that would result in the clause increasing if those variables were met. One of the clauses involved the Spaniard playing in 22 league matches - a feat he reached on the final day of the season.
That pushed up his release clause to €40 million (£17.2 million). However, the report adds that the clause would only remain active if Valladolid stayed in La Liga, hence the reduction upon relegation.
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Whether Fresneda chooses to stay at his current club to help them back to La Liga remains unclear, but Relevo claim his departure can 'speed up' - and Arsenal, Dortmund and Newcastle all remain interested in signing the young full-back.
Featured Image Credit: Alamy / Cesar Ortiz/pressinphoto/Sipa USA / Craig Thomas/News ImagesTopics: Arsenal, Real Valladolid, Premier League, La Liga, Transfers