The Gunners have been heavily linked with the Spaniard for much of the past two months, but have been seen as ‘also rans’ for much of this period with Barcelona thought to have been interested in the player they once sold.
However, reports claim that Gunners are in the mix for the £12.9m-rated star, with negotiations surrounding a contract taking place.
It’s understood that an agreement has not yet been reached and it remains unclear as to whether or not Nolito will leave Celta with keeping his spot in Spain’s squad ahead of EURO 2016 a major aim.
Arsenal boss Arsene Wenger has seen his attacking ranks depleted by injuries in recent weeks, making the 29-year-old a tempting option.
Nolito is widely thought of as one of the best players in La Liga outside of the Barcelona and Real Madrid duopoly.