Barcelona have reportedly offered Arsenal the chance to sign goalkeeper Neto this summer.
According to a report by Spanish media outlet Sport, the Gunners are willing to let Bernd Leno leave the club and Neto could be a potential replacement.
However, the report further states that it is unknown if the north London club's interest in the 32-year-old is concrete enough for them to make a bid.
Barcelona are in the process of a squad overhaul that will see them sell off fringe players in the team. They are looking for buyers for Neto, with Valencia and Villarreal potential destinations for the shotstopper.
The former Fiorentina man joined the Camp Nou outfit from Valencia in 2019 but has largely acted as Marc-Andre ter Stegen's backup in goal. He has made just 12 La Liga appearances for the Catalans in three seasons.
Bernd Leno, for his part, has seen his spot as Arsenal's number one taken by Aaron Ramsdale since the England international arrived last summer.
The 30-year-old made just four Premier League appearances last season and his lack of gametime has negatively impacted his international career.
Leno could be on his way out of the Emirates in search of regular gametime to boost his chances of making Germany's squad for the 2022 FIFA World Cup.
Barcelona and Arsenal have a positive history of doing business together
Arsenal and Barcelona have successfully conducted transfers between one another dating back to 2000 when the Blaugrana signed Emmanuel Petit. Since then, several players have gone on to do well at both clubs.
The most recent of these deals came in January when Pierre-Emerick Aubameyang left the Emirates on a free transfer to join the Catalans.
Arsenal icon Thierry Henry also left the English capital for Catalunya in 2007, with Alexandre Hleb joining him a year later. Alexander Song and Thomas Vermaelen also swapped the red and white of the Gunners for the blue, red and maroon of Barcelona.
Alexis Sanchez and Denis Suarez moved the other way. Cesc Fabregas and Hector Bellerin both left the Barcelona academy for Arsenal and enjoyed long and productive careers in north London.
Fabregas became a bonafide club legend and captain at the Emirates before returning to his boyhood club in 2011.