Arsenal are yet to appoint a new manager following the departure of Arsene Wenger last week.
The Frenchman bid an emotional farewell to the Gunners faithful following a 22-year reign at the North London outfit.
Numerous names have been linked to the vacancy, but the club are yet to make an official appointment.
Despite this, the rumour mill suggests that Arsenal are pushing ahead with transfer plans for the summer.
According to German publication Bild, the Premier League giants are closing in on the signing of Borussia Dortmund defender Sokratis Papastathopoulos.
The report states that Arsenal will part with around £17.4m for the Greece international, who is valued at £19.8m by Transfermarkt.
The Gunners certainly need to improve their defensive options due to Laurent Koscielny’s injury and Shkodran Mustafi’s blunders, but Sokratis has left some fans feeling uncertain.
The 29-year-old, who has been at Dortmund since 2013, started 41 games in all competitions for the German club this season, including 28 in the Bundesliga.