The Gunners could face competition from Manchester United for the Turkish internationals signature if of course Bayer decide to part ways.
United are preparing a €40 million bid for Çalhanoğlu according to the Dutch football outlet Soccer News.
The 21-year-old provided an assist in his most recent game against Barcelona in the Champions League.
Bayer lost the game 2-1 but the Turkish international has now directly contributed towards 12 goals (6 goals, 6 assists) in 14 European competition appearances.
The Turkish international already has two goals to his name this season and has built a reputation as being a set-piece specialist. Çalhanoğlu takes just about ever corner for his side and has a phenomenal free-kick scoring record – 22 in the Bundesliga.
Former United player and BT Sport football commentator Owen Hargreaves recently praised Çalhanoğlu calling him a superstar.
“I love Çalhanoğlu I think he’s gonna be a superstar, honestly he’s one of the best strikers of the ball you’ll see,” Hargreaves said.
Çalhanoğlu is the sixth most valuable U-21 player in the world according to a recent study conducted by Soccerex.