According to Spanish tabloid As, Read Madrid plan to pay a lot of money to bring back their old (young) striker Álvaro Morata from Juventus, only to then have Arsenal spend a whole lot more money to bring in their new (young) striker, Álvaro Morata.
This kind of business acumen, plucked straight from the genius of Pawn Stars and Storage Wars, is exactly what has made Real Madrid the global powerhouse that it is today, or, at least, it would be, if it almost certainly wasn't completely made up sui generis by those scallywags at As. I asked our writer / resident Madrid expert bozz to weigh in on the likelihood that Madrid would go through this kind of trouble to get 20 million euros, and whether or not Arsenal would go through the trouble, and he answered that it is far more likely that Madrid go after Paul Pogba from the Bianconeri, with Isco going to Italy as part of the deal as well.
One thing is true, though: if Arsenal want Morata, they would trigger Real's buyback clause, and then Madrid would probably buy Morata and deal with Arsenal. If Arsenal try to deal with Juve directly, it would damage relations between the latter and Madrid. So it (to the extent this is real) is complicated. Further complicating matters is the idea that Juventus want Alexis, but that's a separate, also probably not real, issue.
Arsenal, to the extent (none) that they're involved, are on the outside looking in (they're not, because this is almost assuredly not a real thing that is happening). So, for now, don't get too excited.