Arsenal will rival Liverpool and Tottenham for Koln left-back Jonas Hector, according to Express Sport.
The 26-year-old impressed for Germany during the 2016 Euro Championship and is expected to be in the starting line-up for today's semi-final against France.
Liverpool and Tottenham Hotspur have also been linked with a possible move for the defender.
FC Koln are ready to listen to offers if they are in the region of £24million.
At the start of the last month, sporting director Jorg Schmadtke rubbished rumours that they accepted a £12million by Jurgen Klopp's side.
"There's nothing in it," Schmadtke said.
"There is no question of an offer from Liverpool,' he told German newspaper Express.
"If someone comes up with double [the number in question], then I might answer the phone.
"But I believe that Jonas plays in the new season with us."