AZ Alkmaar goalkeeper Sergio Romero is an £8 million target for Arsenal.
The News of the World says the Argentina international is ready to move to a bigger league after impressing during the Dutch side's Champions League campaign.
The Gunners have been searching for a keeper all season after first-teamers Manuel Almunia, Lukasz Fabianski and Vito Mannone have all made major errors in big games.
"My career has gone very well in Holland but I came to Europe to play in the biggest leagues and I will soon be ready to move," said Romero.