Arsenal are reportedly prepared to pay £40.8m to sign Sporting Lisbon teenager Joelson Fernandes.
Given the financial implications of the coronavirus pandemic, Arsenal boss Mikel Arteta is said to have a limited transfer budget at his disposal this summer.
However, according to A Bola, the Gunners are prepared to meet the release clause of 17-year-old Fernandes, who has played just 63 minutes of first-team football.
The report claims that a number of club officials are currently in negotiations with their Portuguese counterparts.
Fernandes is represented by Kia Joorabchian, who is said to have links with influential figures behind the scenes at the Emirates Stadium.