Arsenal have rejected an offer from Wolves of around £15million for Ainsley Maitland-Niles.
The 22-year-old is valued at around £20m.
Wolves have also asked about Valencia right-back Thierry Correia.
Despite the uncertainty regarding his future, Maitland-Niles was in action as Arsenal beat MK Dons 4-1 in a friendly on Tuesday.
The 22-year-old’s versatility – he can play at right-back, in central midfield or as a winger – would be of great use to Wolves.
Newcastle are also reportedly interested in signing Maitland-Niles, while he was previously linked with Arsenal’s bitter rivals Tottenham but they look set to sign Matt Doherty from Wolves instead.
Maitland-Niles has found himself out of the side for long spells in recent seasons but finished the 2019-20 campaign strongly and helped Arsenal to win the FA Cup.
In total he has made 100 appearances for Arsenal, but he hasn’t received many opportunities in his preferred central midfield position.
Arsenal are looking to sell players in order to raise funds for signings, with Maitland-Niles one of those that could depart.