The Daily Star report that QPR boss Mark Hughes has joined Arsenal in the chase for the Argentine striker.
Lazio are reportedly prepared to sell Zarate for around £10million.
Zarate is currently on loan at Inter Milan.
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Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.
Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.