Fanatik says Elneny is poised for a January free transfer - with Galatasaray leading the race.
The Turkish giants have reportedly already held talks with the Egypt star after having a September bid rejected.
Negotiations are at the 'signing stage' - ahead of a possible deal in the next transfer window,
Elneny has played just twice in the Premier League this season.
And the 29-year-old's contract runs out in June.
One small complication could be Elneny departing in January for the African Cup of Nations.
But a reunion with Gunners legend Mesut Ozil in Istanbul still seems likely.
Galatasaray boss Faith Terim is said to have demanded that his board pursue Elneny.
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