By Arsenal correspondent Tony Hughes

Arsenal have not yet made a bid for Real Madrid striker Karim Benzema , Football Insider sources understand.

Reports on Wednesday claimed that the Gunners had tabled a Benzema bid as the club formalised plans to sign the France international.

Sources close to the situation have told Football Insider that Arsenal retain an interest in landing the forward but they have not yet tabled an offer.

Arsene Wenger has been given the green light to break Arsenal’s transfer record to sign Benzema in the final days of the summer window for a fee that exceeds the £40million spent on Mesut Ozil two years ago.

The Gunners have already made a lucrative contract offer to the Real Madrid star after holding discussions with Benzema’s entourage in an attempt to entice him to Emirates Stadium.

Further talks are expected as Arsene Wenger attempts to persuade his fellow Frenchman that joining Arsenal would represent the right career move.

But they will hold off on a Benzema bid until they are confident they have reached an agreement with the player.

The Premier League club are still working on a deal to sign the striker, although there remains work to be done to persuade him to make what would be a shock move from Spain to north London.