Arsenal will reportedly be offered the chance to sign Schalke winger Jefferson Farfan in January.
Farfan has scored 30 times in 119 times for the Bundesliga outfit since moving to the Veltins-Arena in 2008 from PSV Eindhoven.
According to talkSPORT, Schalke are interested in Arsenal midfielder Andrey Arshavin and are keen to offer £15 million-rated Farfan in exchange.
Die Königsblauen are resigned to losing Farfan, but will not sell the 27-year-old Peruvian in January unless they can find a replacement - and Arshavin is reported to be considered an ideal option.
Arshavin has been restricted to a bit-part role at the Emirates Stadium this season, but says he will stay with Arsenal for the short-term at least in order to fight for his place.
The Russian has, however, been frequently been linked with a move away from Arsenal, with the likes of Juventus and Zenit St Petersburg said to be interested in his signature.
Arsenal, meanwhile, are looking to further reinforce their midfield during the transfer window, and Arsene Wenger has been linked with swoops for Yann M'Vila and Tim Ream.