One of the biggest transfer stories from last summer was Arsenal's interest in title-winners Riyad Mahrez and Jamie Vardy.
Neither player ended up joining the club, but the Gunners have reportedly renewed their interest in the Algerian, who has requested to leave Leicester.
The DailyMail reports that Leicester value the winger at £50m, while Arsenal are unwilling to pay more than £35m.
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The 30-cap international tore up the Premier League in 2015-16, scoring 17 league goals and creating another 10 for his teammates as Leicester romped to a shock title.
His form fuelled rumours that he could join the Gunners or Barcelona, but he ultimately decided to remain at Leicester, where he struggled with form and was dropped several times from the starting XI as the Foxes struggled to make any real go at defending their title.
Mahrez, who is valued at £25.5m by transfermarkt.com, scored only six league goals and assisted four last term and is now looking to move on from the King Power Stadium.
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