The German World Cup winner has been linked with both Premier League clubs in recent weeks amid rumours that he will be leaving the Bernabeu in 2015.
Khedira is currently in the final year of his contract with Real, and after showing a reluctance to commit to a new deal the Spanish giants are ready to offload him for around £10m in January.
Reports have suggested that a pre-contract agreement with Chelsea has been all but settled, thanks to the player’s ties with Jose Mourinho – whom he worked with during their time together in Madrid – but now the sway of Arsenal’s German contingent is thought to have won him over.
The likes of Lukas Podolski, Per Mertesacker and Mesut Ozil all play at the Emirates Stadium, and it’s understood that they’ve been talking to the 27-year-old.
The Gunners are thought to have personal terms all but agreed with the midfielder, but are yet to sort out a fee with Real.