Arsenal pin their hopes on Ricardo Alvarez

The Daily Mail reports that Arsenal are back in the hunt for Argentinian midfielder Ricardo Alvarez with the Gunners hoping they can persuade Velez Sarsfield to lower their £11m asking price. Despite reports last week indicating Arsenal were rolling in cash following canny property deals, the north London club are apparently reluctant to pay the full amount, even though executive Richard Law jetted out to Argentina last month to negotiate with Velez Sarsfield president Fernando Raffaini.

Now the Gunners are lining up to have another crack at the  6ft 2in Alvarez, a gifted 23-year-old midfielder who helped his club to the Argentine title last season. It was reported recently that Roma were willing to meet the £11m asking price but that now appears to have been nothing more than idle gossip.

Elsewhere, contrary to rumours that were doing the rounds earlier in the week, Lassana Diarra is happy as Larry at Real Madrid and would never dream of doing a bunk from the Bernabeu. That at least is what the Malian's agent says, appearing to rubbish suggestions that the 30-year-old midfielder was on the brink of moving to Manchester United. "Lass does not want to leave Real Madrid," John Williams told French magazine Le 10 Sport. "He has two years left on his contract and is feeling good at Madrid. I have not opened negotiations with any club in either England or Italy, but if there is a great offer then we'll have a look at it."

The Metro claims that Porto striker Radamel Falcao might soon be joining Andre Villas-Boas at Chelsea. The former Porto coach was unveiled as the Blues new coach earlier in the week, and now is seems that Falcao could be one of Villas-Boas first signings. The Metro quotes the 25-year-old Colombia hitman as saying:  "I am leaving things up to my agent. I am very calm about the situation but I know there has been some movement."

Falcao was an integral part of the Porto side that swept all before it last season, winning a domestic league and cup double as well as the Europa League, and the South American is confident he's got what it takes to light up the Bridge. "My ambition is to keep working hard and I am convinced I can play in a superior league like England," he said, adding: "If Chelsea are interested in me then all that needs to happen is for negotiations to take place."

The agent of Juan Manuel Mata has said the Valencia winger is ready to hear what Liverpool have to say about a possible move to Merseyside. Mata is currently on duty with Spain at the European Under-21 Championships and will sit down to discuss a move away from Spain early next month. "Until after the Euro, we won't listen to anybody," said Juan senior, his dad and agent. "After that, we're willing to listen to all offers we receive." Apparently Reds boss Kenny Dalglish is a big fan of Mata and believes he would be an ideal foil for striker Andy Carroll .

In other news Atletico Madrid frontman Diego Forlan has dropped his strongest hint yet that he could be headed to White Hart Lane. The 32-year-old Uruguayan, star of last year's World Cup, has been chased by Harry Redknapp for months, only for Madrid to stonewall all possible deals. But now the former Manchester United forward looks set to leave Spain this summer. Talking to the Spanish press, Madrid president Enrique Cerezo said: "Diego will decide what happens, but it looks like his first choice will be England."

Finally, Arsenal will not be parting company with Carlos Vela any time soon, says the Mexican striker's agent. The 22-year-old spent much of last season on loan to West Bromwich Albion, but it seems Gunners' boss Arsene Wenger still believes he has a job to do at the Emirates. "I have had eight conversations with Arsenal," Eduardo Hernandez told ESPN Mexico. "The most recent was last Friday, and Carlos is an Arsenal player, he will stay at Arsenal and is not for sale." ·