Arsenal are edging closer to completing what could be the first signing of their 2026 summer transfer window.
The Gunners have emerged as the frontrunners in the race to sign teenage sensation Jeremy Monga.
According to The Times, Leicester City have turned down a £5 million offer from Arsenal for Monga.
The proposal also included a 10 per cent sell-on clause designed to sweeten the deal.
The Foxes initially demanded £15m to part ways with Monga but have since lowered their valuation to £10m. However, they also want a 15 per cent sell-on fee included in any potential agreement.
Monga is a highly-rated winger who made his Premier League debut at the age of 15.
His rapid rise has attracted interest from several clubs. Manchester City and Chelsea have also tracked his progress.
The 16-year-old made 27 appearances in the Championship last season, netting one goal and providing two assists.
Monga will formally pen a professional contract when he turns 17 on July 10.
Arsenal may decide to submit an improved offer rather than allowing the situation to drift towards a transfer tribunal.
The club are convinced that Monga has the potential to become a future first-team star.
While Arsenal remain focused on recruiting proven performers, they are equally determined to secure the best young talents available.
The teenager will undoubtedly dream of making his senior Arsenal debut during the upcoming campaign.
He could follow a similar pathway to Max Dowman, another academy prospect generating huge excitement.
Arsenal would ideally like to complete the deal quickly before shifting their full attention to strengthening the senior squad.
The reigning Premier League champions are expected to sign at least a midfielder, a left winger and a full-back before the window closes.
Stats from Transfermarkt.com