Arsenal are said to be on alert after France international Yoann Gourcuff’s contract negotiations with current side Lyon ground to a halt.
The 27-year-old is under contract until 2015, but the French side want him to sign an extension.
They are also in the middle of a drive to reduce their wage budget, and top earner Gourcuff is a prime target.
Reports suggest that the deal currently on the table would involve the former AC Milan man taking a huge cut in his £90,000-a-week wages in return for a two-year extension.
French publication Le Sport 10 claims that Gourcuff is not happy with the prospect of slashing his wages and would rather move elsewhere to be paid less than stay at Lyon.
That would be of interest to Arsenal, who are long-term fans of the midfielder.
Lyon president Jean-Michel Aulas said in August: “All that I know, if I understood correctly, is that he was ready to lower his salary to go to Arsenal, but that’s not the same thing.”