Arsenal and Chelsea are in competition to buy Atletico Madrid star Diego Costa.

Accroding to Mirror Sport Chelsea are ready to sign a 50 million Euro deal with 185,000Euros a-week contract for the Spaniard.

The Spanish International who has been in red hot form this season, has been extremely consistent and has successfully played a pivotal role in both La Leaga  as well as in Champions League campaign for Atletico.

“The west Londoners hope to confirm the deal before the end of the season and ahead of Costa departing for the World Cup, where he is expected to be an integral member of the Spain squad trying to defend their 2010 crown,” Goal.com reported. Chelsea boss Jose Mourinho has many times described his desire to get Costa playing for his team but so far it has remained an illusive dream. Chelsea had reportedly tried to buy the Atletico star last season but the negotiations failed at that time. That is why Mourinho is trying hard for the Spaniard’s services.

On the other hand Arsenal, who are also bidding for Luis Suarez have expressed their desire to buy Diego Costa. Coach Arsen Wnger had expressed his desire to get a world-class striker by saying

“There is perhaps room for an attacking player who can play in a different position to Giroud. Someone who can play with him as well. But I do not know yet who will be on the market.” Arsenal are ready to bid as much as 31 million Euros for Costa.

Atletico Madrid coach Diego Simone previously in an interview suggested that he was ready to let Costa go out from Atletico, but now has pleaded the club management not to sell the Spaniard at any cost, at least for this season. He displayed his distress in an interview by saying “We understand that Chelsea have huge financial power and if he wants to live off football for the rest of his life, I will have no problem in him going. Samuel Eto’o is getting older and Diego Costa could do his thing there but, for now, he is ours.”

Simone has said that the team is shaping up well and this will be a wrong time to sell his premium player.

The Spaniard’s 20% players rights are with S.C Braga, and It is believed that the Portuguese club is keen for his transfer as they will generate a great amount of profit from the transfer deal.

Comparing the prices put forward by both teams to buy the Spaniard, with their financial power and a more determined approach, It certainly looks that Chelsea have the clear advantage to get him aboard.