The Gunners are looking for a creative midfielder in the upcoming transfer window, but were dealt a setback with the former as Buendia joined Aston Villa on Sunday in a £35million deal from Norwich City.
A permanent move for Odegaard is up in the air too after impressing on loan from Real Madrid during the second half of the season.
Instead, the Gunners are taking a close look at Calhanoglu as his Milan contract runs down.
The Turkish midfielder is out of contract this summer after a brilliant campaign at the San Siro and is one being considered if Odegaard stays put this summer.
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