The Russian ace has been looking to leave the UEFA Cup holders in search of a move to a major European club.

Arshavin set the field ablaze with Russia during Euro 2008 and has been linked with the Gunners and their North London rivals Tottenham, along with Spanish giants Real Madrid and Barcelona.

But speculation has grown in recent weeks that he could be set for a move to the Emirates Stadium after he was given permission to discuss his departure from Zenit.

Reports suggest Zenit are demanding a 20million-pound fee for Arshavin, but the Gunners value the 27-year-old at considerably less.

Gunners boss Arsene Wenger has been looking to reinforce his squad after losing captain Cesc Fabregas for several months due to a knee injury.

Soccer365.com