Mikel Arteta's side are yet to sign a marquee forward this summer as they chase down Atletico Madrid’s Julian Alvarez who is restless in the Spanish capital.
Despite Arsenal’s interest, the club are seeking to sell to buy this summer as reports claim that both Miles Lewis-Skelly and Martinelli are on the transfer list in an attempt to gather funds for the North London side.
Arsenal have already spent nearly £200M this summer on the likes of Bruno Guimarães, Ezri Konsa, Piero Hincapié and Christos Tzolis and must now balance the books with a number of unwanted stars.
Arteta has already suggested that Lewis-Skelly will stay with Arsenal past the summer but has refused to rule out a departure for Martinelli who has been the subject of interest for Al-Hilal this month.
Transfer expert Ben Jacobs revealed on Monday afternoon that a fresh bid had been made for the Brazilian international who will be pondering his future as the two clubs come to an agreement.
“Al-Hilal's latest bid for Gabriel Martinelli is €55m+€4m. Arsenal seeking closer €60m+. Talks ongoing.”
Paris Saint-Germain's Bradley Barcola has been suggested as a replacement for Martinelli, but the winger is also a Liverpool target. A huge race could be on between the two clubs heading into the final week of the transfer window.