Arsenal are monitoring PSV winger Hirving Lozano but are yet to make a formal bid.
It is understood that a bid of around £20million would be enough to get the Dutch side to allow him to leave.
Lozano has scored six goals in six games in Eredivisie and has already attracted a number of scouts across Europe to go and watch him.
PSV winger Hirving Lozano is being watched by Arsenal after impressing in Holland
The 22-year-old signed for PSV in June but offers are expected to be made for the Mexican in January.
It is also understood that Arsenal chief scout Steve Rowley has already made the trip to Eindhoven to watch him.
Lozano could be viewed as a replacement for Alexis Sanchez if the Chilean leaves the Emirates in the New Year.
The Mexican winger has scored six goals in six games for PSV so far this season