Arsenal could reportedly purchase Lazio midfielder Sergej Milinkovic-Savic for as little as €40m (£35m) during this summer's transfer window.
The 28-year-old's future is again the subject of much speculation, with his contract in Rome due to expire in the summer of 2024.
According to Calciomercato, Lazio remain hopeful of agreeing a new deal with Milinkovic-Savic, but the player and his agent are said to be preparing for a summer exit.
The report claims that Arsenal are keen admirers of the Serbia international and could potentially sign him for €40m (£35m), which is significantly less than previous windows.
Manchester United and Real Madrid are among the clubs to previously been linked with the midfielder, with claims that Lazio wanted as much as €100m (£87.7m).
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Towards the end of last year, Lazio president Claudio Lotito said that he was not interested in selling the Serbian.
"I will not sell Milinkovic-Savic, I will offer him a renewal. I reiterate, he is now worth €120m (£105m), and every month that passes, the price goes up," Lotito told Il Messaggero.
Juventus are also believed to be showing an interest, but Lazio are expected to be reluctant to let him join a Serie A rival, while Arsenal could place a higher wage packet on the table.
Milinkovic-Savic has been in strong form for his Italian club this season, scoring seven goals and registering eight assists in 37 appearances in all competitions.
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Meanwhile, since arriving from Genk in 2015, he has turned out for the Eagles on 331 occasions, scoring 65 goals and registering 59 assists in the process.
"Renewal? I focus on the pitch, helping the team to reach their seasonal goals. I don't want to talk about the renewal, I always think about the pitch, we'll see at the end of the season but I don't always talk about that," the Serbian told reporters when addressing his future.
A recent report claimed that Arsenal had been in contact with the agent of Milinkovic-Savic to discuss a possible move to the Emirates Stadium.
The midfielder has scored five goals and registered eight assists in 26 Serie A matches this season, with Lazio currently second in the table, five points clear of fifth-placed Roma.
Matt Law
