Striker Jackson Martinez will leave Porto and Arsenal, Roma, Napoli and Milan are all ready to make a move.
The striker is quoted as saying: "Right now I'm focused on the national team but I'm awaiting news on the future after Porto gave me permission to leave."
The 28-year-old has a transfer market value of £25m and is ready to leave Porto after three very positive seasons at the Estadio do Dragao.
According to reports in England, Arsenal are determined to sign the strong striker but they will face competition from the likes of Valencia, Roma, Napoli and Milan.
The Giallorossi will sell striker Mattia Destro after he spent last season on loan at Milan. And Seydou Doumbia, who joined from CSKA Moscow, disappointed with only two goals scored in the Serie A.
Napoli were already linked with the player in the summer of 2013 but president Aurelio De Laurentiis opted for Real Madrid's Gonzalo Higuain after Porto asked £29m to sell Martinez.
And Milan have shortlisted the Colombian together with Zlatan Ibrahimovic, Mario Mandzukic and Carlos Bacca as a target for the offensive department.