The Gunners have been working on a deal to draft in the Greek centre-back over the course of the past few months, with the sale of Thomas Vermaelen to Barcelona having intensified Arsene Wenger’s efforts to land the World Cup star.
It’s understood that discussions with his representatives took place yesterday, and that the outcome was, on the whole, good.
Olympiakos are ready to accept an £8m offer for the 23-year-old, with the only hold-up having been his chances of regular action in north London.
Although there are no guarantees that he will dislodge Per Mertesacker or Laurent Koscielny, Wenger may look to use Manolas heavily across the season as he attempts to balance European and domestic responsibilities.
Juventus, Napoli and Manchester United are also thought to be watching the Greek enforcer, but Arsenal are considered to be frontrunners.