The Gunners are extremely keen to lure the 26-year old Brazilian to the Emirates Stadium but it is not as clear-cut as simply packing up and leaving the Allianz Arena for Gustavo.
"My contract with Bayern runs until 2015 but it is very important that I play first-team football to keep getting called up for Brazil," Gustavo told reporters.
"I am in a very delicate situation at Bayern and this needs sorting out. I have personal and professional reasons to move.
"I have heard about the Arsenal interest. It's a big club we're talking about here so of course I'd like to play for them.
"Even when Bayern beat them in the last Champions League [on aggregate] you could see they are not pushovers."