Ben Chilwell
Arsenal target Ben Chilwell is yet to make an appearance in the Premier League for Leicester CityGetty

Arsenal are planning to return with a second bid for Leicester City defender Ben Chilwell after failing with an offer six months earlier. The Foxes defender is yet to play in a Premier League game but he has already attracted a lot of attention from the big guns in the English top-flight.

According to the Daily Telegraph, the Gunners, who have already failed with a £3.5m ($5m) bid, are willing to increase their offer, as they look to beat off competition and complete the transfer during the ongoing January transfer window. Apart from the north Londoners, arch rivals and neighbours Tottenham and Liverpool have shown interest in signing the young left-back. The report, however, claims that Arsenal are currently leading the race to secure Chilwell's signature.

The England U20 international has featured three times for Leicester this season in the FA Cup and League Cup and is highly-rated by the club. The Gunners have scouted him extensively when he plays for the club's reserves and during his loan spell with Huddersfield Town at the end of 2015.

The Foxes, who are currently in second place in the Premier League only owing to an inferior goal difference to Arsenal, have made it clear that he is not for sale, but the report claims that Arsene Wenger is prepared to tempt them with a better offer, as he is keen to secure the defender's signature before the summer, when other clubs will join the race.

The Emirates Stadium outfit see the young full-back as a long-term replacement for Nacho Monreal, putting the future of Kieran Gibbs at the club in doubt. Chilwell, who is contracted to the club until the summer of 2017, is set to be offered a new deal, which will see his wages rise from the current £800-a-week to around £2,500-a-week.