Biglia reveals Arsenal, Madrid interest
The Gunners are reported to have held a long-standing interest in Biglia, who is under contract for a further three years with Anderlecht.
However, the Argentine believes the newly-crowned Belgian champions will allow him to leave at the end of the season and he is now waiting for offers.
"It’s true that Real Madrid and Arsenal are interested in me," the 26-year-old told todomercadoweb.es.
"I can say that Real Madrid have contacted my agent Enzo Montepaono to ask about my situation but so far there have only been contacts and no formal offers have arrived.
"About Arsenal, I can tell you the same as before. Only Arsenal and Real Madrid have contacted us and now we are waiting.
"I have a contract with Anderlecht until 2015 but the club know what I want. My intention is to leave.
"We have negotiated my buy-out clause and, if a club comes and pays the clause, Anderlecht will allow me to leave.
"In January, there was an important offer from Fiorentina but the club rejected it because we were in the middle of the championship. I hope now things can be different."
Biglia’s buy-out clause is understood to be 10million euros (£8m), while reports in France have also claimed that Arsenal are closing in on a deal for another midfielder – Rennes’ Yann M’Vila.