Real Madrid to make formal offer for Arsenal's Vieira today

Real Madrid are set to make a formal bid for Arsenal midfielder Patrick Vieira today.

The Guardian says Real's offer will come today, with the Madrid hierarchy preparing to lodge an opening offer of £16.5 million.

Madrid's coach José Antonio Camacho has indicated his desire to complete the transfer before Thursday's registration deadline for the Champions League preliminary rounds.

Real have been encouraged by agents' reports that Arsenal's vice-chairman David Dein has responded to inquiries by saying his club would not accept an offer of "less than £23 million". That constitutes a drop of £10 million on Arsenal's initial position.