Arsenal will need to pay a fee of around €70 million to convince Fiorentina to part ways with Dusan Vlahovic.
The Serbian had a superb 2020/21 Serie A campaign, netting 21 goals from 37 outings.
He has since been touted for a bigger challenge. Both Gunners and Tottenham Hotspur have been linked.
Spurs have made contact with his agent, but won’t make a move unless Harry Kane leaves the club.
On the contrary, the Gunners are bracing for the potential exit of Alexandre Lacazette.
After an unsuccessful attempt at landing Tammy Abraham, Vlahovic appears an option for them.
Atletico Madrid are also interested in the marksman, but their opening €60m bid was recently rejected.
The Gunners may need to cash in on players before they can afford the services of the 21-year-old.
They may still face a tough task on landing him without European football on offer.
The Gunners suffered a 2-0 defeat to Brentford in the Premier League opener on Friday.
They were without Pierre-Emerick Aubameyang and Lacazette, who were sidelined with illness.
There has since been speculation that the duo are pushing for potential summer exits.
Aubameyang has recently been linked with a shock move to Barcelona.
Stats from Transfermarkt.com
Read: La Liga attacker could join Arsenal by the end of this week.