Mikel Arteta's squad hopes to add a center midfielder to complement Declan Rice this season.
Bruno Guimaraes of Newcastle has been on Arsenal's radar for some time, as has one of Europe's most in-demand players this summer, Joao Neves, who has a £105 million release clause.
Recent reports suggest that Euro 2024 winners Martín Zubimendi, Mikel Merino, and Fabian Ruiz may relocate to North London.
According to The Transfers Podcast, Arsenal has 'started conversations' with Paris Saint-Germain for Ruiz, although the discussions are contingent on the Gunners selling one of their midfielders.
A similar framework to the one they have in place for goalkeeper David Raya, when he signed an initial loan with the option to buy a year later, is also discussed.
If PSG decides to part ways with Ruiz, it may raise doubts about Manchester United's move for Manuel Ugarte and whether the Ligue 1 champions will allow both midfielders to leave in the same window.
According to Fabrizio Romano, Ugarte has already accepted personal terms with United, who claims the Uruguayan is eager to transfer even without Champions League football.
However, United may need to sell before moving, with Casemiro and Scott McTominay recently linked with moves away.
After impressing for Sporting CP, Ugarte was one of Europe's most wanted players last summer.
Several teams, including Chelsea, expressed interest in signing Ugarte, but PSG allegedly offered a more lucrative financial package and swooped to sign the midfielder for roughly £51.8 million.
"I'm delighted to take this big step in my career at such a great club," says Ugarte. "I'm going to give my all for Paris Saint-Germain."
The excitement surrounding his debut at the Parc des Princes was palpable, but the 23-year-old has struggled to impact Luis Enrique's squad.
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