Chelsea are open to selling Tammy Abraham on a permanent basis this summer, according to reports.
The 24-year-old has been linked with a loan switch to the Gunners, who are the favourites to land the English striker, a boyhood fan of the club.
Abraham is looking for a move away from Stamford Bridge after falling down the pecking order, with Blues boss Thomas Tuchel placing his faith in the likes of Kai Havertz, Timo Werner and Mason Mount to deliver the goods.
The Cobham graduate had also been linked with a move abroad in recent weeks, with reports suggesting that the west London side had looked into the possibility of including him in an exchange deal for Borussia Dortmund's Erling Haaland, who is top of the German boss' wishlist ahead of the 2021/22 campaign.
As per Sky Sports via Football Daily, Arsenal are interested in signing Abraham on an initial loan, but Chelsea want to sanction a permanent sale for their academy graduate, and have set an asking price upwards of £40 million for the striker.
It has been reported previously that several key figures among the Arsenal faithful, including manager Mikel Arteta, admire the forward, who has emerged as a potential target for the north London outfit ahead of what could be a massive squad overhaul for the Spanish boss' side.
Furthermore, Abraham is aware of Arsenal's interest, and is open to move to the Emirates Stadium after effectively falling out of favour with Tuchel, who often excluded the striker altogether from the matchday squad towards the business end of the previous season.
West Ham have also been credited with an interest in the London-born forward, who was Chelsea's joint top-scorer last season despite making just seven appearances across all competitions since Tuchel's arrival to Stamford Bridge in January.
Abraham's departure would free up space in Chelsea's squad as the Blues plan a blockbuster move for Haaland, who netted 41 goals in 41 appearances across all competitions for Dortmund last term.