Ricardo Rodriguez
Rodriguez has a release clause of €25m. Getty

Wolfsburg appeared to have admitted defeat in their attempts to hold on to Arsenal target Ricardo Rodriguez. Switzerland international Rodriguez has emerged as a summer transfer target for the Gunners with German publication Kicker suggesting the Premier League side will activate his €25m (£19m, $28m) release clause.

The 23-year-old left-back has also admitted he would relish the opportunity to link up with his international teammate Granit Xhaka at the Emirates Stadium. Xhaka completed his move to North London in May.

Wolfsburg now appear resigned to losing the player. The club's sporting director, Klaus Allofs, was quoted as saying by Swiss publication Blick: "As we have recently talked it was clear; his idea is to leave us."

After another disappointing Premier League campaign, Arsene Wenger is looking to conclude the majority of his side's summer transfer business as soon as possible, with an offer also out for Leicester City striker Jamie Vardy.

According to the Daily Telegraph, the Gunners have met the England international's £20m release clause. Leicester, however, have responded by offering the 29-year-old a lucrative contract to keep him at the King Power Stadium. The player has travelled to France with his England teammates ahead of Euro 2016 with his future still hanging in the balance.

Current Arsenal striker Olivier Giroud has claimed Vardy is desperate to join the North London club.

"I have been told that Jamie wants to join us and it's very good news for us. I think we can be complimentary and that's all I can say. He's a fantastic player, so it's good news for us," Giroud told Sky Sports.

Arsenal failed to add a single outfield player to their squad last summer.