Arsenal are keeping an eye on Napoli winger Lorenzo Insigne’s contract situation, according to the Corriere Dello Sport (via TMW).

The Italian, who was a key part of his country’s European Championship triumph in the summer, is still in negotiations about extending his current deal with Napoli, which is set to expire at the end of the season.

Insigne has already been offered a five-year extension, but he will only receive €5m a year, which is the same figure he is currently earning with the Serie A club.

Talks are ongoing between the player’s agent and president Aurelio De Laurentiis but there has been no breakthrough in negotiations so far.

Although it would go against Arsenal’s current transfer policy of signing younger players, the fact that Insigne (who is 30) is available on a free transfer may prove a deciding factor in going after him.

The Gunners won’t be the only team interested in the Italian international, with reports also suggesting that Chelsea may get involved.