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 speculation below…
1. Ayew snubs Toon
Andre Ayew has agreed a deal to join Qatari side Al Sadd on a free transfer, despite attracting interest from Newcastle United and Crystal Palace. (Official announcement) (Photo by Julian Finney/Getty Images) Photo: Julian Finney
2. Toon hopeful of Lemina deal
Newcastle United are hoping to come to an agreement with Mario Lemina this week as they look to snatch the out-of-favour midfielder from Premier League rivals Southampton. (Daily Mail) (Photo by Paul Ellis - Pool/Getty Images) Photo: Paul Ellis - Pool
3. Cherries eye up Peacock-Farrell
Bournemouth could turn their attention to Burnley's Bailey Peacock-Farrell in their search for a goalkeeper. (Daily Mail) (Photo by Clive Mason/Getty Images) Photo: Clive Mason
4. Cahill snubs Crystal Palace
Veteran defender Gary Cahill has rejected a contract offer from Crystal Palace ahead of the coming season. (The Sun) (Photo by Henry Browne/Getty Images) Photo: Henry Browne