Chelsea and Arsenal have proven to be no strangers when it comes to battling for key transfer targets in recent years.

Mikel Arteta's men once again faced competition for the signature of Riccardo Calafiori, with Chelsea one of many sides previously keen on landing the Italian defender.

Despite interest from Enzo Maresca's men, Calafiori appears to be closing in on a switch to the Emirates Stadium, with Arsenal aiming to wrap up the deal this week.

After missing out on the Bologna centre-back, Chelsea have switched their focus to FC Basel's Renato Veiga and have agreed a PS12 million deal to sign the full-back.

Now, according to The Athletic, Chelsea believe they have picked up a better value deal than Arsenal's pursuit of Calafiori.

It's reported that the Blues believe the 20-year-old represents a 'much better value proposition' than Calafiori.

Arsenal will reportedly pay a fee worth around PS45 million should they manage to agree a deal with Bologna for the Euro 2024 star.

The youngster had a hand in three goals in the process but is yet to earn a call-up to Portugal's senior squad.

As for Calafiori, his performances at Euro 2024 turned plenty of heads but his form at Bologna last season was arguably more impressive.

The 22-year-old managed seven goal involvements in 33 appearances while playing at centre-back and left-back.

Calafiori would appear the more ready-made option but Veiga has undoubted potential and certainly fits into Chelsea's strategy of targeting talented prospects in recent years.