The 2010 Copa del Ray winners are said to be set to launch an audacious £12 million bid for the best little Spaniard we know.
Which isn't really that audacious when it's rumoured that Man City are said to prepared to offer about £20-odd million plus about half of their first team cast offs to secure his services.
Arteta's agent, the ever-helpful Inaki Ibanez, is quoted as saying in the Spanish press: "They (Everton) are asking for a lot of money, so it is difficult for Mikel to exit the club."
What exactly the point of saying that is is quite beyond me? Shall we drop the asking price for potentially our best player - who we've just helped rehabilitate back to his glittering best after he wrecked his knee - and do ourselves and everyone concerned out of a great deal of money?
I think we were all bracing ourselves for a deluge of bids for our best players once the World Cup was over but we were also pretty secure in the knowledge that, Steven Pienaar aside, our best players all seemed to be happy at the club.
Furthermore, we were hoping that players like Arteta and Phil Jagielka would feel some sense of loyalty to the club having both been out for long periods throuhg injury.
Ironically, it's these two players that have been the subject of most speculation as, in addition to the bids piling in for Arteta, Arsenal are said to be ready to up their £14 million pound bid for Jagielka to £16 million.
I can't wait until that sodding window shuts again!