Arsenal are keeping a close eye on Bayern Munich winger Michael Olise, with reports from Spain suggesting the Premier League champions are prepared to spend in excess of £100 million to bring the French international to the Emirates Stadium.

Spanish outlet Fichajes has reported that Arsenal are "closely monitoring" Olise's contract situation at Bayern Munich, while German journalist Florian Plettenberg has indicated that "informal contacts" between the Bavarian club and the player have already begun.

What an Olise arrival means for Saka

The prospective signing raises immediate questions about the future role of Bukayo Saka, who has been Arsenal's standout performer since breaking into the first team — but the answer may not be the one some fans fear.

FourFourTwo understands that Saka remains unsellable under any circumstances, having put pen to paper on a long-term contract extension this year. Rather than pushing him out, the arrival of Olise could prompt manager Mikel Arteta to reimagine how he uses his No. 7.

Saka, 25, has carried an enormous workload under Arteta — no player has featured more for the Gunners since the Basque coach replaced Unai Emery in 2019, with the Hale End graduate now boasting over 300 appearances. A series of injuries has, however, raised concerns that the relentless demands placed on him have dulled some of his sharpness and explosiveness on the right flank.

Last season, Saka demonstrated real quality operating as a No. 10 during periods when Martin Odegaard and Mikel Merino were unavailable, pulling strings in a more central position while Noni Madueke provided width on the outside. Arteta may well see that advanced central role as Saka's long-term home, with 16-year-old academy prospect Max Dowman also in the frame as a future right-flank option.

Arsenal's appeal to Olise

Arsenal are not the only club tracking Olise, but they boast a unique set of attractions for the London-born attacker. Olise began his career in the Arsenal academy before departing, and a return to his home city could hold genuine appeal.

He would also link up again with former Crystal Palace team-mate Eberechi Eze, with whom he forged a strong partnership at Selhurst Park. Beyond personal ties, Arsenal's position as Premier League champions — and a club with genuine Champions League ambitions following their deep run last season — makes them an attractive destination for a player seeking major honours.

Transfermarkt values Olise at €130 million. Arsenal host Lille in Champions League action this week.