Arsenal are set to battle it out with Liverpool and Borussia Dortmund for the services of Olympiacos striker Kostas Mitroglou in the New Year, according to the Daily Star. Mitroglou has impressed for the Greek giants this season, scoring 14 goals in as many games to attract the interest of some of the continent's leading club sides. Arsenal are on the lookout for a new forward and manager Arsene Wenger has plenty of money to splash in the January transfer window. The 25-year-old would likely cost around £7 million but his recent spate of goal-scoring form could spark a bidding war and drive the fee upwards. Mitroglou has already hit an incredible three hat-tricks this season and has helped Greece to a World Cup play-off against Romania in November. Gunners manager Arsene Wenger has been impressed by the ace and needs a new striker given the long-term injury to Lukas Podolski. Should Oliver Giroud get injured or suspended, he would have just Yaya Sanogo and Nicklas Bendtner to call upon. However, rivals Liverpool and Dortmund are also interested. The former are keen to bring in competition for Luis Suarez and Daniel Sturridge, while the latter are set to lose Robert Lewandowski at the end of the season and need replacements.