Borussia Monchengladbach are preparing to offer a club record €20m(£15.2m) to Chelsea for defender Andreas Christensen, according to German outlet Bild.
The Dane has been on loan in the Bundesliga for the last season, though is extremely highly rated in West London and has even been touted a potential successor to club icon John Terry.
However, with the club boosted by the sale of Granit Xhaka, they are thought to want to reinvest a large part of the fee they received from the Gunners in the 20-year old.
He has been a formidable defender in Germany, earning high praise from fans and pundits alike for a series of excellent performances in the backline.
The Danish international still has a year to run on the loan deal he agreed with the Germans last summer and the club are reportedly ready to insert a first-refusal clause for the Blues in the future.