Newcastle midfielder Yohan Cabaye is keen to join Arsenal.
Arsenal had previously made a bid of £10 million, which was rejected immediately. The chance of playing in Champions League is one aspect of the move that would appeal to Cabaye.
Although Arsenal will have to offer around £18-20 million, if they want Newcastle to consider selling their star man.
The France international was left out of the Newcastle team which lost 4-0 to Manchester City on Monday night in the club’s opening game of the season.
Newcastle manager, Alan Pardew said: “We’ve prepared with the lad for three days and then for him to have his head turned by this bid from Arsenal on the eve of the game is just disrespectful,” Pardew told Sky Sports.
“From my view, why it couldn’t have waited until next morning, I do not know.
“I don’t think the result would have been the same if he had played.”