A swap involving Chelsea striker Danny Sturridge for Arsenal winger Theo Walcott in January is being mooted.
The London Evening Standard says Sturridge privately feels he may have to leave Chelsea in order to improve his chances of playing more regularly, as well as forcing his way back into the England squad having missed out on last summer's European Championships in Poland and Ukraine.
Liverpool are expected to make another bid for his services while Tottenham considered making an offer in the summer.
There is also speculation that he could move to Arsenal with Walcott, whose contract runs out in the summer, moving the other way.