Arsenal have stepped up their interest in Celtic left back Kieran Tierney in the past week and would be willing to let Carl Jenkinson go in the opposite direction as part of the transfer.
Neither Nacho Monreal nor Sead Kolasinac had convincing seasons last year, which has caused Unai Emery to look elsewhere, with Tierney, who has 12 caps for Scotland, his preferred target.
Tierney has won five Scottish titles with Celtic and is a regular in the side that has secured three domestic trebles on the trot under Brendan Rodgers and Neil Lennon.
Arsenal have been tipped to make a £20m bid, but according to the Daily Express the club are also looking at including Jenkinson as part of the deal to persuade Lennon to approve the departure of his highly rated full back.
Jenkinson has been at Arsenal since 2011 but started just two league games for the club last season and it appears the 27-year-old is now surplus to requirements.
Despite the one time England international's limited game time at the Emirates, Lennon is said to be an admirer which could prove vital in getting the transfer completed.
Celtic appear to have competition for the signature of Jenkinson though, with West Brom thought to be interested in the player as well. According to Sky Sports, the club from the Midlands are in talks with Arsenal over the right back, who is currently on £45,000-a-week.
With Mikael Lustig, Jeremy Toljan and Cristian Gamboa all leaving Celtic this summer, the team need a right back ahead of the new season, meaning the failure to land Jenkinson would be a blow.