The Gunners lost six first-team stars to injury through a difficult November, with Francis Coquelin’s knee injury particularly worrying.
The Frenchman has emerged as Wenger’s main holding midfield option through 2015, with his anchoring performances having been key in the club’s improved form across the calendar year.
He is, however, unlikely to feature again until early 2016, and reports claim that the London club are ready to push ahead with a £22m move for Neves as a result.
The 18-year-old Portugal international is widely hailed as one of the best young defensive midfielders in European football, and has been heavily linked with Liverpool since Jurgen Klopp’s arrival.
Arsenal are thought to be willing to pay £12m up front for the teenager, with the remaining £10m of their proposal coming in the form of add-ons.
Neves became the youngest player to captain a side in Champions League action earlier this season against Maccabi Tel Aviv.