Arsenal are currently leading Manchester United in the race for Youri Tielemans.
The Belgian midfielder is out of contract in 2023 and has expressed his desire to play Champions League football.
Leicester don't want to lose Tielemans for nothing and would accept a reduced offer for £30m this summer.
Tottenham Hotspur have also shown an interest in the 24-year-old.
The Sun says the Gunners are leading the race for his signature.
The report claims Tielemans' representatives held talks with Arsenal back in January after they rejected a contract extension offer from Leicester.
United have identified Tielemans as a cheaper alternative to Declan Rice, with West Ham United demanding at least £100m for their captain.