Arsenal have reportedly offered Joel Campbell to Celta Vigo as part of a deal to bring Nolito to the Emirates in return.
Spanish forward Nolito has been in fine form for the La Liga outfit so far this term, scoring eight goals and making five assists in 15 league appearances.
Gunners manager Arsene Wenger is a long-term admirer of the 29-year-old but has been put off by his hefty £12.6m release clause.
According to Spanish publication Don Balon however, Wenger will offer Vigo cash plus the services of Costa Rican forward Campbell in an effort to push through a deal when the transfer window reopens next month.
Campbell has been with the North London side for four-and-a-half years but has only made 11 Premier League appearances, scoring just twice.