Arsenal target Youri Tielemans will agree to head to the Emirates Stadium from Leicester City if Champions League football is on offer, according to talkSPORT reporter Alex Crook.

The Gunners were the Premier League's biggest spenders last summer, parting with £156.8million, and it seems the north Londoners could splash the cash once again when the transfer window reopens.

What's the latest news involving Tielemans?

According to The Sun, Arsenal are closing in on a £40million deal which will see Tielemans link up with Mikel Arteta's charges in the summer.

The report suggests the Gunners are growing in confidence that the 49-cap Belgium international will be at the Emirates Stadium in time for the start of next season, but Real Madrid are ready to pounce if the north Londoners fail to qualify for the Champions League.

Arch-rivals Tottenham Hotspur, as well as La Liga giants Barcelona, are also known to be keeping tabs on Tielemans' situation ahead of his expected departure from Leicester.

The Foxes are set to cash-in on the central midfielder as he has refused to sign a contract extension, while his current deal - worth £120,000-per-week - is due to expire in just over 12 months' time.

Tielemans - who is valued at £59million by the CIES Football Observatory - has enjoyed success in English football, with him getting his hands on the FA Cup and Community Shield during his time on Leicester's books.

Arsenal LOSE advantage in top four battle with DEFEAT at Newcastle! Full reaction on The Football Terrace

What has Alex Crook said about Tielemans?

Crook understands that Tielemans' representatives already headed to Arsenal's training ground earlier in the season and terms were agreed.

However, the journalist warns the 25-year-old's move could hinge on whether the Gunners bag a place in Europe's top club competition.

Crook told GIVEMESPORT: "I think when we spoke in January, we talked about the fact that his agent had already been down at London Colney to thrash out terms.

"I was told a week or so ago that if Arsenal qualified for the top four, it was almost a done deal. If there was Champions League football he would sign the contract."

Are Arsenal likely to qualify for the Champions League?

A 2-0 defeat to Newcastle United, thanks to a Ben White own goal and Bruno Guimaraes strike, means Arsenal's destiny is not in their own hands going into the last match of the season.

That setback means the Gunners will head into the campaign's final day sitting two points adrift of fourth-placed Tottenham.

While Arsenal are due to battle it out with Everton on Sunday, Spurs will visit already-relegated Norwich City.