Italian journalist Alfredo Pedulla has claimed on his official website that Arsenal have tabled a bid worth £17.6million for Bayer Leverkusen goalkeeper Bernd Leno.
But reports on Tuesday suggested no agreement was close between the respective parties.
As noted in the report, both Napoli and Atletico Madrid have been linked with a move for the Germany global, but Arsenal appear poised to win the race for his signature.
Leno had been regarded as one of the brightest goalkeeping talents in Europe when he was younger but his development seems to have stalled in recent years in Germany.
Leno is now set to join and take over the number one shirt for Unai Emery next season at The Emirates.
Both would aid the north Londoners' defence considerably, with 26-year old Leno replacing Petr Cech between the sticks and Sokratis likely to partner Laurent Koscielny in the heart of the defence.
Emery announced during his first press conference that he had already completed a full review of the squad, before he had even met any of his new players, and it looks like he is wasting no time to try and fix its problems.
Leno has all the tools to become a fine goalkeeper and a change of scenery, especially at a club like Arsenal, may give him the platform to refocus and develop.
The Gunners have not won the Premier League since 2004.