Serie A side Inter Milan has offered striker Mauro Icardi to Arsenal.
Tuttosport says Icardi is being used as bait to prise Pierre-Emerick Aubameyang away from Arsenal.
The Gunners captain has little over a year remaining on his contract at the Emirates, and the north London club could be forced to sell him rather than risk losing him for nothing in 12 months.
This has raised the prospect of a swap deal with Inter Milan to bring Icardi in as a direct replacement for the Gabonese star.
Icardi has no future at the San Siro and despite impressing on loan at Paris Saint-Germain this season, there are doubts he will stay in Ligue 1 permanently.
The 27-year-old has 20 goals in 31 appearances, while Aubameyang has returned the same number in just one game more.