But Real Madrid would be waiting to pounce on the Belgian midfielder should the Gunners fail to qualify for the Champions League.
Gunners boss Mikel Arteta wants to boost the quality and depth of his midfield options this summer.
Leicester are all but resigned to selling the man whose goal won them the FA Cup last season.
Need a VPN? Or seeking to switch? Then support Tribal Football by clicking here to sign up with our official partners NordVPN. Not only will you receive the best VPN experience, but also great discounts by signing up via Tribal Football. Thanks for your support!