Hector Bellerin has yet to agree personal terms with any team but Inter Milan are now considered the favourites to sign the Spaniard, football.london understands.
The Arsenal defender wants to leave the club this summer and his representative is currently speaking with a number of teams in Italy and Spain, with Inter the frontrunners to land him right now.
Bellerin, who has two years remaining on his current contract, is keen on leaving north London after spending over a decade at the club, but Arsenal want to receive at least €20m for his services.
Many European teams are struggling to pay significant transfer fees this summer, but Bellerin’s desire to play for in Italy may prove pivotal in negotiations over the coming weeks.
“We will act with peace of mind,” Inter chief executive Giuseppe Marotta said.
“We cannot make heavy investments and we will act with creativity, trying to seize any opportunities. Many clubs will not be able to spend practically anything.”
Arsenal have several right backs at the club right now including Cedric Soares and Calum Chambers, while Ainsley Maitland-Niles is back in pre-season training after being linked with a move away.
Arteta said at the end of last season that he expects the majority of Arsenal’s transfer business to be done once Euro 2020 comes to an end.
Albert Sambi Lokonga’s transfer to Arsenal is on the verge of being announced, while Ben White is also expected to complete his move after agreeing personal terms with the Gunners.
New arrival Nuno Tavares will make his debut for the club on Saturday when Arsenal face Rangers in the second of their Scotland-based pre-season friendlies.