Arsenal were reportedly prepared to hand Brazilian attacker Willian a £250,000-a-week contract before the coronavirus outbreak earlier this year.
Willian has agreed a deal to stay with Chelsea for the remainder of the 2019-20 campaign, but as it stands, he will become a free agent ahead of next season.
Blues boss Frank Lampard recently revealed that the two parties were in talks over a possible extension, although the South American's future is still up in the air.
According to The Mirror, Arsenal were willing to hand Willian a £250,000-a-week contract to make the move to the Emirates Stadium before the coronavirus outbreak.
The report, though, suggests that the Gunners could struggle to offer those terms in the current market due to the financial implications of the worldwide pandemic.
The 31-year-old has scored seven times and provided six assists in 38 appearances for Chelsea this term, including five goals and five assists in 29 Premier League outings.