The 19-year-old has established himself as a regular for the Segunda Division side and has come up with three assists from 15 second-tier appearances this season.
Moleiro has now represented Las Palmas on 54 occasions in all tournaments, scoring three goals and providing four assists, and he has earned two caps for Spain’s Under-21s side.
A host of top clubs are believed to be keeping tabs on Moleiro’s development, with Manchester City, Liverpool, Barcelona and Real Madrid among them.
Moleiro has come through the same Las Palmas youth system as Pedri, who won the Golden Boy award in 2021 after starring for Barcelona following his transfer.
Now, Calciomercato claims that Arsenal have also expressed an interest in signing the Las Palmas playmaker, who is under contract with the Spanish side until the summer of 2026.
Moleiro only signed a new deal with Las Palmas in July, and those terms are reported to include a €30m (£25.9m) release clause, which could double in specific circumstances.
A separate report from Goal claims that interested parties could be made to fork out €60m (£51.8m) if Las Palmas are promoted to La Liga, which is not beyond the realm of possibility.
After 16 games of the 2022-23 season, Moleiro’s club are third in the table with 28 points, which would be enough to earn them a spot in the promotion playoffs at the end of the season.
League leaders Alaves and second-placed Burgos are only three and two points ahead respectively, though, and they rescued a last-gasp 1-1 draw versus Levante at the weekend.
Moleiro recently confirmed to Relevo that Barcelona formalized their interest with an offer over the summer, but the Blaugrana were unable to complete a move due to their financial issues.
“It was two or three weeks after the end of the season. My agent told me that the offer existed, but there were also many rumours and things that were not true,” the teenager said.
Arsenal manager Mikel Arteta is expected to be backed with funds in the January transfer window, with the Gunners set to be five points clear at the top of the Premier League table by Christmas.
A new winger could be on the agenda for the North London club, who have been heavily linked with a move for Shakhtar Donetsk starlet Mykhaylo Mudryk.
However, the Ukrainian side are believed to be holding out for a €100m (£86.4m) offer to sanction a sale, which Mudryk recently admitted has left him “very upset”.