Arsenal lead race for Ross Barkley - and Everton have named their price

Arsenal and Tottenham are frontrunners in the race to sign Ross Barkley but Everton will demand £50 million for the midfielder, according to reports.

The Daily Mail claim that Ronald Koeman has already identified Swansea City’s Gylfi Sigurdsson as a potential replacement as there is a growing likelihood that this will be the 23-year-old’s final season at Goodison Park.

Last week, Koeman issued an ultimatum to Barkley, insisting that he needs to sign a new contract before the end of the season or face being sold this summer.

Barkley will have just one year remaining on his deal at the end of the season and Everton run the risk of losing the midfielder on a free transfer this summer.

But despite being in a weak position in terms of Barkley’s contract, Everton believe they can still command a £50m fee for the player.

Arsenal and Tottenham have both registered their interest and are keeping tabs on the midfielder’s situation.

Koeman, meanwhile, is planning ambitious moves for Arsenal duo Alex Oxlade-Chamberlain and Theo Walcott.