The Gunners are keen to bring a new stopper to the club ahead of the 2021-22 campaign, and Ramsdale is believed to have been identified as the leading target in that area of the field.
However, Sheffield United could ultimately price the 23-year-old out of an exit, with the Blades thought to value the Englishman in excess of £30m.
According to Mundo Deportivo, the Gunners have identified Neto as an alternative to Ramsdale, with the Brazilian thought to be available for a much lower fee.
The 32-year-old has been with Barcelona since 2019 but has only played on 17 occasions for the Catalan giants, with Marc-Andre ter Stegen the number one stopper at Camp Nou.
Neto has also turned out for Fiorentina, Juventus and Valencia during a well-travelled career, while he was capped by Brazil's senior side in September 2018. body check tags ::