The Germany international will have one year left on his contract next June - and has been a long-time target for Arsene Wenger.
Khedira, 26, is currently sidelined with a cruciate knee injury suffered during Germany's 1-1 friendly draw against Italy in Milan last month.
But the powerful midfielder is a close friend of Mesut Ozil, who has made such a big impact in his first season at the Emirates, and would jump at the chance of being reunited with his former Real Madrid team-mate. The asking price would be £20million for a player who would have just a year left on his contract at the Bernabeu. However, United manager David Moyes has now entered the hunt.
Worried about World Cup accommodation prices? Then check out the Favela Experience - the answer to your problems!