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…
5. Davis deal collapses
Leeds United left-back Leif Davis appears unlikely to be joining Bournemouth on loan this summer. A deal to take the defender to the south coast has collapsed. (Football Insider) (Photo by Phil Noble - Pool/Getty Images) Photo: Pool
6. Benitez, considered Rondon reunion
Everton have been thinking about a move for Dalian Professional striker Salomon Rondon, but the Blues may be backing away from a deal. (Liverpool Echo) (Photo by Laurence Griffiths/Getty Images) Photo: Laurence Griffiths
7. Leeds not in for Cajuste
A source close to Jens Cajuste has claimed that “the player does have serious interest from the Premier League, but not from Leeds United”. (LUFCFANZONE) (Photo by PAUL ELLIS/AFP via Getty Images) Photo: PAUL ELLIS
8. Leverkusen want Phillips
Bayer Leverkusen have joined Brighton in the race to sign Liverpool defender Nat Phillips. (Sky) (Photo by Tim Keeton - Pool/Getty Images) Photo: Pool