The Gunners have already had two bids rejected by Celtic, but will likely test the Scottish club’s resolve as Unai Emery looks to bolster his options at left-back.
Meanwhile, the Daily Mirror reports that RB Leipzig have set a £92 million release clause for Dayot Upamecano, and will not accept a bid below that price and do not have to sell the centre back.
The German club are also keen that Emile Smith Rowe return to the club, and Arsenal could offer up the young Englishman to tempt their hand.
Emery is keen to reinforce his central defensive stocks after the departure of Laurent Koscielny. Summer signing William Saliba has been loaned back to Saint-Etienne.
Upamecano would be keen on a move to the Emirates, but Arsenal are unwilling to pay the release clause.
There is better news in their pursuit of Juventus’ Daniele Rugani, however.
The two clubs are negotiating a potential deal for the centre half but the exact nature of the transfer has thus far proved a sticking point.
Arsenal would favour a two-year loan or a permanent transfer with staggered payments, says the Evening Standard, but an agreement over a deal may yet be reached.
However, Arsenal’s proposed loan move for Philippe Coutinho appears to have collapsed.
In terms of outgoings, the club have rejected a £30 million offer from Everton for Alex Iwobi, per Talksport.
A fee of somewhere closer to £50 million could perhaps be enough to prise the Nigerian from Arsenal.
One player who has left the club is Carl Jenkinson, with the right-back departing for Nottingham Forest for an undisclosed fee and signing a three-year deal.
Danny Welbeck, now a free agent after leaving Arsenal at the end of last season, may also have found a new home – Watford are set to sign the forward.