The Gunners are among several clubs interested in signing Locatelli from Sassuolo this summer after he impressed during Euro 2020.
Juventus are also keen on a move for the 23-year-old and have reportedly bid £25m plus young midfielder Nicolo Fagioli as they look to beat Arsenal to his signing.
Fagiolo’s agent Andrea D’Amico told Sky Sports Italia: “Juventus would like to sign Locatelli and Arsenal have already offered €40m.
“But I can assure you that, as of today, Fagioli has not been included in the deal.
“Massimiliano Allegri wants to see him in training to understand if he can be useful during the season.”
Locatelli wants to play Champions League football next season so would prefer to join Juventus, which could be a sticking point for Arsenal.
