Juventus' attempts to sign Theo Walcott could spark Chelsea's bid to sign Milos Krasic, according to talkSPORT.
The England winger is yet to sign a new deal with The Gunners, a delay that has added to speculation over his future at the club.
Agent for the Arsenal man, Colin Gordon, said: "Juventus have never called us. We have not received calls from Italy recently.
"We'll see. I don't know what will happen."
Walcott isn't the only player Arsenal are fretting about being able to sign a new deal, with Robin Van Persie and Andrey Arshavin also out on contract in 18 months.
The deal for the Arsenal man, could be the catalyst for Chelsea's own transfer dealings, with the successful recruitment of Walcott allowing Krasic to leave Juventus.
The sale of the Serbian, who has also been followed by Manchester United, perhaps before the purchase of Walcott, would open up more funds for manager Antonio Conte.
The Italian is reportedly open to the idea of selling Krasic to Chelsea, and is under the understanding that if Arsenal's season continues to deteriorate, then Walcott would be open to a move.
Chelsea's hopes of signing Luka Modric appear to be at a dead end, and they now seem willing to turn their attention to Krasic to bolster their attacking ranks.