Arsenal have made a new offer for Leicester City ace James Maddison.

Football.London reports the Foxes are insisting on a cash-only deal for Maddison as Arsenal are willing to offer Joe Willock as a makeweight.

Mikel Arteta is a huge admirer of the 24-year-old as the north London club look to sign a creative midfielder before the transfer window closes.

But with the Gunners already spending £75million so far in the transfer window after the acquisition of Ben White from Brighton, they are unwilling to meet the Foxes £60m valuation.

Alternatively, Arsenal were looking into the possibility of a part exchange with the likes of Willock, Reiss Nelson and Eddie Nketiah potentially being offered as a sweetener to drive the price down for Maddison.

But it's Willock who has been put forward as a makeweight as the Gunners have opened negotiations with Leicester for Maddison.