Wolves' Portugal winger Pedro Neto, 22, is tempted to join Arsenal but a potential £50m move depends on whether the Gunners' Ivory Coast winger Nicolas Pepe, 27, completes a loan move to Nice.

Arsenal are interested in signing Wolves' Portugal winger Pedro Neto, 22, as a replacement for Ivory Coast winger Nicolas Pepe, 27, who has been linked with Leicester and Nice.

Arsenal are set to clear out another unwanted player as Nicolas Pepe closes on a loan move to Nice.

Nice want to bring in Ivory Coast winger Nicolas Pepe, 27, on loan from Arsenal, and still hope to sign Uruguay striker Edinson Cavani, 35, on a free transfer after he left Manchester United.

Juventus are keen to offload 21-year-old Sweden winger Dejan Kulusevski and while a swap deal with Arsenal for Ivory Coast winger Nicolas Pepe, 26, has been suggested, the Italian club prefer cash.