Ivan Fresneda will be available for €20m (£17.2m) this summer (Getty)

Arsenal target Ivan Fresneda will see his release clause halved this summer following Real Valladolid’s relegation from La Liga.

Valladolid were unable to get the win they needed on the final day of the La Liga season on Sunday and will drop into the Segunda Division.

Despite Valladolid’s poor season, Fresneda has impressed in his debut season in La Liga and the 18-year-old has already attracted interest from several clubs across Europe.

Arsenal had targeted a move for Fresneda in the January transfer window but Valladolid opted to keep the right-back in their effort to avoid relegation.

According to Relevo, now that Valladolid have dropped down from the Spanish top flight, Fresneda’s release clause has halved from €40 million (£34.4m) to €20m (£17.2m).

The report claims that Arsenal, Newcastle United and Borussia Dortmund all have a long-standing interest in Fresneda.

Ivan Fresneda has attracted interest from Arsenal, Newcastle and Borussia Dortmund (Getty)

In an interview with The Athletic in April, Fresneda said he has been impressed by Arsenal’s progression under Mikel Arteta.

‘I like Arteta a lot because I think he’s a great coach; I follow the European leagues and I think the work he’s doing with his club is fantastic,’ Fresneda said.

‘But now with [Real Valladolid manager] Pezzolano and before with [previous manager] Pacheta we do that style of play, and that style is the one I like the most.’

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Arsenal are looking to recruit a new right-sided defender in the summer transfer window and have already tabled an offer for Galatasaray’s Sacha Boey.

It’s understood that Arsenal’s €17m (£14.7m) bid has been rejected by the Turkish club, who are holding out for a a €25m (£21.7m) fee.

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A huge chance for the Gunners.