Arsenal are reportedly ready to battle with Liverpool for the signing of Lille and Portugal midfielder Renato Sanches.The 23-year-old had a fairly successful last season with Lille, who went on to win Ligue 1. Sanches' performance at Euro 2020 was also eye-catching and he was one of Portugal's best performers at the tournament. His chips have gone up as a result, forcing both Liverpool and Arsenal to take notice.According to reports in L’Equipe (via Sport Witness), Arsenal have identified the Portuguese as a potential signing and are interested in bringing him to the Emirates ahead of next season. Liverpool too have shown interest in the youngster.🇵🇹 Renato Sanches 🆚 France = ______#EURO2020 pic.twitter.com/LquVq3uxVY— UEFA EURO 2020 (@EURO2020) June 23, 2021Lille signed Sanches for €25 million in 2019, and with the current market situation, Arsenal might struggle to hand the French side an improved offer.Sanches has spent a year in the Premier League with Swansea City. However, his stint with the Welsh club was disappointing. He made just 12 league appearances for them and failed to score or assist in them.Arsenal manager Mikel Arteta has a huge task of taking the club back to the upper echelons of the Premier League after finishing eighth last season. And signing Renato Sanches could be a step in that direction.Renato Sanches. This kid has had some career and he's only 23. From Golden boy to Bayern to struggling at Swansea to winning the title at Lille to balling at EURO 2020.You have to appreciate the mentality. It's not how far you fall, it's how far you can bounce back. #POR pic.twitter.com/W8dAEBQSYv— EUROs Tweet (@Football__Tweet) June 28, 2021Also read: Fabrizio Romano's Transfer Roundup: Updates on Cristiano Ronaldo and Lionel Messi's futures, Arsenal active in the transfer market and moreCesc Fabregas backs Mikel Arteta to be successful at ArsenalChelsea v Nottingham Forest - FA Cup Third RoundFormer Arsenal and Chelsea midfielder Cesc Fabregas has backed Arteta to be successful at Arsenal."He’s a guy that loves football. He knows what he's doing. He's got a clear idea of where he wants to go. Even now, if you speak to some of the players, they will tell you that they really enjoy playing under him, that the trainings are well, that they feel prepared and they know what they're doing," Fabregas told talkSPORT.Terming Arteta "the man to bring this team forward," Fabregas went on to add:"He was very lucky in terms of being next to Pep for I don't know how many years exactly but it was like super preparation for a young coach. I mean if I could have the chance to do something like that, I think I could grab it without any question because it’s like doing a masters when you are only finishing high school."It’s a difficult job, it really is [because of] where he got the club and where the aim is that Arsenal should be, but I think Edu and the board believe a lot in him and hopefully he can be the man to bring this team forward."Also read: Euro 2020: 5 players who deserve more playing time