Arsenal have been linked with a move to sign Filipe Luis from Atletico Madrid in January.
The former Chelsea player was linked with a move to PSG but the French club elected to sign Juan Bernat from Bayern Munich because of the transfer fee.
The Brazilian, however, will be out of contract at the end of the season and Unai Emery is reportedly keen on the experienced left-back as an upgrade on Sead Kolasinac and Nacho Monreal.
Atletico will no doubt accept less than his €30m release clause given he will be able to walk away for free at the end of the season.