It is understood that a fee of around £50 million could be enough to secure the transfer, and former Gunner Perry Groves is of the opinion that the England international is well worth that amount.
Speaking on talkSPORT, he said: “He’s English. He’s young – he’s 23. He’s proven that he can play in the Premier League.
"He’s good on the ball, he’s good at bringing it out from the back. He’s very calm.
"He can play right-back, he can play as a holding midfield player, but as a centre-half, I think he has the ability to be better than John Stones and Harry Maguire from what I’ve seen of him.
"As an Arsenal fan, for £50 million, happy days. It’s a statement of intent.”
We’ve gathered the best of today’s Premier League transfer speculation below…
. LEEDS, ENGLAND - FEBRUARY 23: A general view of the white and blue Nike Flight match ball prior to the Premier League match between Leeds United and Southampton at Elland Road on February 23, 2021 in Leeds, England. Sporting stadiums around the UK remain under strict restrictions due to the Coronavirus Pandemic as Government social distancing laws prohibit fans inside venues resulting in games being played behind closed doors. (Photo by Mike Egerton - Pool/Getty Images)
Premier League match ball. (Photo by Mike Egerton - Pool/Getty Images) Photo: Pool
5. Phillips tips Leeds to move for Origi
Kevin Phillips has suggested that Leeds United could move for out-of-favour Liverpool attacker Divock Origi this summer. (Football Insider) (Photo by JON SUPER/POOL/AFP via Getty Images) Photo: JON SUPER
6. Toon offered Lookman
Newcastle United have been offered a chance to land Red Bull Leipzig winger Ademola Lookman this summer. (Chronicle) (Photo by Ronny Hartmann/Getty Images) Photo: Ronny Hartmann
7. Choudhury wants Magpies move
Leicester City midfielder Hamza Choudhury is seeking a loan move to Newcastle United in a bid to secure first-team football next season. (Northern Echo) (Photo by Laurence Griffiths/Getty Images) Photo: Laurence Griffiths
8. Toon join Phillips race
Newcastle are in the hunt to sign Liverpool centre-back Nat Phillips. Burnley and Brighton are also interested. (Sky Sports) (Photo by Michael Regan/Getty Images) Photo: Michael Regan