Arsenal are in advanced talks with Julian Draxler's representatives and his club Schalke as they look to push through a move for the German international by the end of the week.

The 20-year-old's £37million release clause activates in the summer and Arsenal want to wrap up a deal before the end of the transfer window before interest in Draxler from other clubs mounts.

Arsenal were hoping to sign Draxler for around £30m but Schalke are holding out for £37m for their prized asset.

Draxler has emerged as Arsenal's No 1 transfer target this month as manager Arsene Wenger looks to bolster his attacking options for the title run-in.

The Frenchman’s hopes of landing the German wonderkid were been dealt a major boost last week after he made the Emirates Stadium his priority destination.

Draxler has told friends that his preferred option once he leaves the Bundesliga is Arsenal.