Your Arsenal transfer round-up on Tuesday, May 30.
Double Declan Rice blow
Arsenal look to have been handed a double Bayern Munich blow in their transfer pursuit of Declan Rice. The Gunners have made the West Ham captain their summer priority, football.london understands, but they face stiff competition from the German champions to complete the move.
Early ground work has been laid by Mikel Arteta and Edu to sign Rice this summer which has made the north Londoners Rice's preferred destination.
READ MORE: Barcelona hand Mikel Arteta dream Arsenal striker transfer chance with bargain £17m summer offer
Other English clubs are in the race, but Arsenal's main threat comes from Bayern Munich, who have taken two major steps towards signing the Hammers captain this summer which includes preparing a £95million formal package offer.
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Arteta gets transfer green light from Guardiola
Arsenal's hopes of signing Joao Cancelo this summer have been given a significant boost after Manchester City set a new asking price.
The Portugal international has spent the last six months on loan at Bayern Munich after falling out of favour with City boss Pep Guardiola. The Bundesliga giants had the option to purchase Cancelo once his temporary spell had expired, but that will not be activated which will see him return to Manchester
Despite the €70million (£60.7m) buy option that Bayern could have triggered, which would likely be too much for the the Gunners, City have significantly lowered his asking price to half of that sum, according to a new report.
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Arsenal's perfect Balogun scenario
A departure from Arsenal for Folarin Balogun looks highly likely this summer with the Gunners unable to fulfil a number of his wishes.
Talks regarding his future are scheduled for the summer but the outcome already appears highly likely. Understandably, Balogun wants first-team assurances and is not interested in another loan spell, but Mikel Arteta cannot guarantee consistent game time with Gabriel Jesus and Eddie Nketiah ahead of him in the pecking order.
Firm interest from over five major European clubs only benefits Arsenal though as they can spark a bidding war which would help them receive the best possible package to sell Balogun.
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