Arsenal are negotiating a swap deal with Atletico Madrid involving Vitolo and Hector Bellerin.
The deal, if materialised will see Bellerin moving to Atletico while Vitolo becomes Arsenal player, according to the Telegraph.
The newspaper reports that Atletico are desperate to land the Spain defender this summer.
However, Arsenal boss, Unai Emery is demanding around £50million for the Spaniard.
Bellerin is expected to be fit for the start of the next campaign after missing the majority of last season through injury.
We earlier reported that Arsenal are in "advanced talks" to sign former Atletico forward, Yannick Carrasco from Dalian Yifang.
The Belgium winger is desperate to return to Europe and especially play in the Premier League, following a spell in China.
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