AC Milan have reportedly offered Mario Balotelli to Arsenal for £7.9m plus Joel Campbell in exchange.
The 23-year-old has been linked with a move to the Gunners all summer, but both clubs have denied that any talks have taken place regarding a transfer.
According to Tuttosport, Milan are keen on signing Costa Rican international Campbell and the club are prepared to offer Balotelli as part of a deal to land him.
Earlier this week it was reported that Arsenal had cooled their interest in Balotelli over his wage demands.
