Arsenal are ready to activate Thomas Partey's £42m release clause at Atletico Madrid, reports Libertad Digital.However, they would need to do that before Partey signs a new contract with Atleti. The midfielder is currently in negotiations with the club about an improved deal.The renewal would include an increasedsalary for Partey and a higher release clause. So the Gunners would need to land the 26-year-old before then.Yet Partey is keen to remain in Madrid, having spenthis entire career with Atletico - minus two loan spells - and has played 175 games for them in all competitions."Atlético is my home, the club that gave everything, where I want to be," the Ghana international said."My agent is talking to the club about the renewal. I hope everything goes well."Arsenal remain keen on signing Partey, though, and have told his representatives that if a new contract isn't agreed they're ready to pay his release clause.