The AC Milan midfielder's contract is set to expire at the end of the season. It means he will become a free agent this summer.
Arsenal are eager to sign an attacking midfielder. However, with the chances of permanently signing Martin Odegaard from Real Madrid being low, the Gunners have found an alternative in Hakan Calhanoglu. They are likely to face competition from Chelsea for the Turkey international's signature.
Hakan Calhanoglu was one of Bundesliga's top prospects during his time with Bayer Leverkusen. The 27-year-old was courted by a number of top clubs before eventually signing for AC Milan in 2017.
Calhanoglu has become a key figure in the Milan dressing room and has managed to form a formidable partnership with talismanic striker Zlatan Ibrahimovic this season. He has scored eight goals and provided eight assists for AC Milan in the current campaign.
AC Milan are reportedly desperate to keep hold of Calhanoglu, who is rumored to be demanding a salary in the region of £100,000-per-week. Even though the Italian giants are willing to accept this demand, Calhanoglu is interested in a move to the Premier League where he has attracted interest from Arsenal and Chelsea.
Arsenal have lacked quality and creativity in their attacking third this season. The Gunners have been desperately short of goals and ideas going forward and will therefore look to sign a top-quality attacking midfielder this summer.
Mikel Arteta's top-priority is to sign Real Madrid loanee Martin Odegaard permanently at the end of the season. However, the Norwegian seems likely to return to Real Madrid. Arsenal have therefore identified Calhanoglu as the perfect alternative.
Calhanoglu can also play as a winger (a position he originally developed in while playing for Bayer Leverkusen).
Arsenal will pull off a massive transfer if they manage to sign Hakan Calhanoglu
Arsenal, like most teams in European football, have suffered massively due to the negative financial impact of the coronavirus pandemic. This is likely to affect their performance in the transfer window this summer.
The Gunners will therefore look to the free agents market to try and pull off some bargain deals this summer. The potential signing of a quality player like Hakan Calhanoglu on a free transfer could prove to be a huge boost for Mikel Arteta's side.