Wenger has made reinforcing the holding midfield position one of his transfer priorities this summer and sent a scout to watch Martinez during Bilbao’s Europa League semi-final win over Sporting Lisbon on Thursday night.

At 23 and already a full Spain international, Martinez would be valued in excess of £10 million but could be a more realistic option than France international Yann M’Vila.

Wenger has tracked M’Vila closely over the past year but will be mindful of the competing interest across Europe, notably from Real Madrid and Inter Milan.

Rennes would value M’Vila at around £17 million, which would break Arsenal’s transfer record, but the fear is that the price could be driven up even further.

As well as Martinez, Arsenal have also watched Anderlecht midfielder Lucas Biglia.

Although Wenger has no shortage of emerging central midfielders, the concern is that Aaron Ramsey, Jack Wilshere, Mikel Arteta, Tomas Rosicky and Abou Diaby are all players who also like to push forward.

Alex Song’s defensive qualities have made him a regular over the past four seasons — and he is likely to be offered a significantly improved contract later this year — but there has been a lack of obvious cover.

Pat Rice is finally set to end his 42-year stay with Arsenal and leave his position as Wenger’s number two during the summer.

Rice has been assistant manager since Wenger first arrived at the north London back in 1996 and has played a major role in the club’s success.

The former Northern Ireland defender was close to leaving the club last year, but Wenger persuaded him to sign for another year.

It now seems certain that Rice will leave at the end of the season.

Wenger is determined to have a coach who has a close connection with the north London club and could promote from within as former defender Steve Bould has already impressed during his spell as reserve and youth team coach.