EXCLUSIVE | By Arsenal correspondent Tony Hughes

Arsenal and Chelsea have registered their interest in signing in-form Palermo striker Paulo Dybala.

SS Lazio v US Citta di Palermo - Serie A

Football Insider sources have learned that the Premier League duo are ready to rival Juventus in the race to capture the 21-year-old Argentinian.

The London clubs have asked to be kept informed about Dybala’s situation after learning that Palermo will listen to offers for the forward, who is out of contract in the summer of 2016.

The Italian club’s president Maurizio Zamparini  values the team’s spearhead at $40m (£28.5m) and has claimed he has what it takes to become the new Lionel Messi.

As revealed by Football Insider, Chelsea scouts watched Dybala in action against Serie A leaders Juve last weekend in a match won 1-0 by the Bianconeri.

Arsenal are also in the market for a new forward and have identified the player as a potential summer target as they step up plans to reinforce their front line.

The Argentine has shot to prominence with his displays for 11th-placed Palermo this season, scoring 12 Serie A goals as well as providing seven assists in the competition.

His form has caught the eye of scouts from Europe’s leading clubs and Chelsea and Arsenal have joined those who are closely monitoring him, including Serie A champions and runaway leaders Juve.

Chelsea are in the market for a mobile young forward who can take some off the goalscoring burden off the shoulders of first-choice front man Diego Costa.

Arsenal will listen to offers for Lukas Podolski and Joel Campbell, on loan at Inter Milan and Villarreal respectively, in the summer and are looking at adding a third orthodox front man to rival Olivier Giroud and Danny Welbeck.

Dybala has only 15 months remaining on his contract and Palermo president Maurizio Zamparini has admitted he is likely to be sold this summer.

“For me, Dybala is the Messi of the future,” Zamparini told an Italian radio station. “I value him at $40m but we will have to see what happens at the end of the season. There has been a lot of talk about Dybala, but his agent is just doing his work. I have a good relationship with him.”