Arsenal are preparing to make a sensational £40million bid for young Germany international Julian Draxler, as Arsene Wenger is desperate to make a big signing.
According to The Mirror, the Gunners chief executive Ivan Gazidis was in contact with Schalke over the possible deal, despite Wenger having serious reservations over the asking price.
Arsenal are ready to offer £40million for Draxler, but the report claims his club are demanding closer to £60million for a player that has been tipped to be the star of the Germany team in the future.
Wenger is running out of time to make any significant signings as the transfer window closes on Monday night and getting deals done isn't helped by the fact they have the small matter of a north London derby on Sunday afternoon.
Draxler is reportedly a long-term target of Wenger's but he signed a new two-year extension to his current contract with Schalke at the end of the season, designed to stave off interest from European football's big clubs.
However, the Royal Blues completed the signing of AC Milan attacking midfielder Kevin-Prince Boateng for £11million and this could have given Arsenal encouragement in their pursuit of 19-year-old Draxler.
The Mirror report also claims the Gunners have been offered Real Madrid star Kaka, who admitted he wanted to leave the Santiago Bernabeu before the close of the window.