The interest in Arsenal's Spanish starlet Fran Merida, 19, has intensified of late, with La Liga outfit Atletico Madrid allegedly making their interest known to the north London club.

But Gunners boss Arsene Wenger has spoken out over the transfer rumours, claiming that some clubs are doing their best to "destabilise" Merida.

The youngster's first-team opportunities at Ashburton Grove have been mostly limited to League Cup outings, with the occasional Premier League appearance.

However, Wenger is keen to keep Merida at the Emirates Stadium, and told journalists at a press conference today that a contract with the player has been agreed, but is yet to be signed.

"Some clubs are doing their work behind our back to destabilise him," the Frenchman said.

"We cannot stop that, but it is a fact.

"He has an offer which he has agreed, but has not signed yet."

Atletico are not the only Spanish side to harbour a growing interest in Arsenal academy products.

Barcelona, who were angry with the manner in which Merida and Cesc Fabregas were bought by Arsenal, are believed to be keen on luring talented teenagers Benik Afobe and Chukwuemeka Aneke away from north London.

Aneke has reportedly shunned Barca's advances, but Afobe was handed a £5,500 per week contract and, according to a recent report pubished by Goal.com UK has already been invited to visit the Catalan club's training facilities.