Real Madrid have reportedly joined the race to prise Alexander Helb away from Arsenal after making tentative contact with the player's represenatives.
The Spanish giants are set to compete with Internazionale and Barcelona, who have already expressed their interest following Hleb's reported willingness to quit Emirates Stadium.
Hleb is thought to be prepared to break his contract with Arsenal and buy out his current deal in order to enjoy one last major pay day at one of the continent's elite.
According to a report in Spain, the Gunners are prepared to offer the 27-year-old €75,000-a-week (£60,000) to try and persuade him to stay, but that would be eclipsed by the €125,000-a-week (£100,000) on offer from Inter.
Madrid are also prepared to meet that amount after sporting director Predrag Mijatovic joined the Hleb fan club and is keen to see him bolster the right side of Madrid's midfield.
According to AS, if Hleb were to leave then that would cause Cesc Fabregas to become concerned about the direction that the north London outfit are heading in.
Along with Mathieu Flamini, the Catalan midfielder and Hleb were close friends and if it appears that Arsenal are taking a step back then he could well consider his own future at Emirates Stadium next year.
Barcelona have also made their intentions clear by informing the player's agents that they would meet his demands as the club look to continue their summer rebuilding programme.
Camp Nou technical secretary, Txiki Begiristain, has been tracking Hleb for some time and the Catalan press believe that an official approach will be made as soon as Inter make their move.