Arsenal are proposing a swap deal between Hector Bellerin and Emerson Royal.
Bellerin is desperate to leave the Gunners, despite being the longest serving player among their present squad.
The 26-year-old still has two years remaining on his contract, but there have been few offers for him this summer.
According to The Athletic, Arsenal have come up with the idea of swapping Emerson with Bellerin.
It is unclear if Barcelona would be tempted, but their present financial constraints mean that a swap may appeal to them as well.