Arsenal have been alerted about a £20m release clause in the contract of Luiz Gustavo, whom they missed out on signing last summer, according to the Express.
The Gunners were hot on the heels of the Bayern Munich midfielder but the Brazilian chose to move to Wolfsburg, putting an end to Arsenal's pursuit.
Reports say the World Cup had a major influence on his decision as the midfielder wanted to play week in week out, which would have been near impossible at the Emirates.
Wolfsburg sporting director Klaus Allofs has refused to rule out the presence of such a clause and revealed that no player is untouchable at the club and can be sold for the right fee.
"Even at VfL [Wolfsburg] nobody is unsellable. For me it is important that we show [players] that we are willing to negotiate if an offer is made that is reasonable in a sporting sense and also makes good business sense for VfL, " Allofs said.
Meanwhile, Gustavo revealed that he is happy in the Bundesliga and wants to help his side achieve something without thinking of a transfer.
"This is an old story. We have a great group and want to achieve something together," Gustavo said.
Arsene Wenger is likely to move for the player in the summer as a replacement for Mikel Arteta, who has reached his thirties, and to play alongside Mathieu Flamini in the Arsenal midfield. His presence will add some much-needed steel to the midfield, which has been found wanting against big teams, as was displayed in their 1-0 loss to Manchester United at Old Trafford earlier this month.
The Gunners are on a great run in the league, top of the table with four points separating them and second placed Liverpool. They travel to Cardiff on Saturday looking to open up a seven-point lead at the top and putting pressure on their direct rivals when they face off on Sunday.