Transfer report: Arsenal and Manchester United among host of clubs eyeing Atletico Madrid forward Luicano Vietto

Manchester United and Arsenal are monitoring Atletico Madrid forward Luciano Vietto.

Vietto, 22, moved to the Vicente Calderon from Villarreal last summer for 20m Euros but quickly fell out of favour with Atletico boss Diego Simeone and scored just three goals all season.

The Argentine striker is keen to kickstart his career with a move this summer and the Spanish giants, who lost to city rivals Real Madrid in the Champions League final, could be prepared to do business if they can recoup the money they paid for Vietto a year ago.

Gunners boss Arsene Wenger could turn his attention to the Argentine hitman as an alternative to Jamie Vardy, who looks set to snub a move to Emirates and stay with Premier League champions Leicester City.

New Manchester United manager Jose Mourinho could also make a move for Vietto if in the unlikely event free agent Zlatan Ibrahimovic decides not move to Old Trafford this summer.

But Vietto, who hit 18 goals for Villarreal before his big-money move to the capital, could be tempted to snub a move to England and make an emotional return to the El Madrigal.

Meanwhile, Barcelona, Valencia and Italian giants AC Milan and Inter Milan are also monitoring his situation.

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