Arsenal are willing to send Hector Bellerin to Atletico Madrid in a swap for Kieran Trippier.
Football.London says Bellerin wants to return to Spain and both Atletico and Barcelona are keen.
Gunners manager Mikel Arteta is believed to be keen on getting a player in exchange for the full-back, with both Trippier and Barca's Emerson mentioned as potential options.
And the Bellerin and Trippier swap is 'a genuine prospect'.
Arsenal forward Alexandre Lacazette could also reportedly be used in a possible exchange package.
Atletico have held off interest from Manchester United to so far keep hold of England international Trippier.