The Telegraph say that Arsenal are considering making a formal offer for Brentford's 27-year-old Spanish goalkeeper David Raya, who has one year left on his contract and is valued at £40m by his club.
According to the report, Bayern Munich entered into talks with Brentford last week but would prefer a loan deal, while Raya wants a permanent transfer and is interested in working again with Arsenal goalkeeping coach Inaki Cana.
Chelsea have reached an agreement to sign defender Axel Disasi from AS Monaco for 45m euros (£38.57m).
France international Disasi, 25, will give Chelsea another right-sided centre-back option following the injury to Wesley Fofana.