The player in question is Moises Caicedo of Brighton.
Arsenal’s interest in Caicedo first came about back in January and Mikel Arteta and co. were very keen to get a deal done.
The north Londoners reportedly saw bids of £60m, £70m and £80m turned down during the winter window.
Caicedo has continued on with the Seagulls and remained a key figure as they push for their first-ever European finish.
He also signed a new contract with Brighton earlier this year, but a summer move still seems to be on the cards.
According to Football Insider, Arsenal lead Chelsea in the race to sign Brighton star Moises Caicedo this summer and it is understood that the Gunners have a far better chance of landing the Ecuador international.
Crucially, FI explain that Brighton are now resigned to losing Caicedo when a suitable bid arrives this summer, with the player valued between £70-80m.
Given Arsenal already made a bid similar to this in January, the north Londoners should have no issue wrapping up a deal for Caicedo in the summer.
But if Granit Xhaka does end up leaving the Emirates, Arsenal will still need another midfielder on top of Caicedo this summer.