Arsenal are reportedly willing to offer fringe players to Leicester City in exchange for midfielder James Maddison this summer.
The 24-year-old only signed a new four-year contract in October 2020, though the Foxes are prepared to negotiate with other clubs if their valuation of the player is met.
Maddison is a primary target for Gunners boss Mikel Arteta, who is looking to replace midfielders Martin Odegaard and Dani Ceballos, as they have both returned to parent club Real Madrid following loan spells at the Emirates.
According to the Daily Mail, a £50m offer would not tempt Leicester into negotiations, so Arsenal are prepared to include fringe players in a proposed bid.
Nelson has just one year remaining on his contract and has struggled to cement his place as a regular starter under Arteta, and is now deemed surplus to requirements.
Maitland-Niles, meanwhile, was looked at by Brendan Rodgers in the January transfer window, before the 23-year-old joined West Bromwich Albion on a temporary deal, and the Foxes would be interested in signing him this summer.