The 26-year-old has been in fine form for the Italian champions since joining them from Roma last summer and he is on the Gunners’ radar.
Arsenal reportedly view the Bosnian as a long-term replacement for Santi Cazorla, while he has also been touted as being part of a swap deal with Alexis Sanchez.
But now, according to Fichajes, Real Madrid have also joined the race to try and sign Pjanic this summer.
The Spanish side are in the market for a new playmaker as they are reportedly ready to show James Rodriguez and Isco the door at the end of the season.
Manager Zinedine Zidane is now drawing up a list of targets and Pjanic is said to be one of the names high on his shortlist.
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