The Daily Mail reports that former Arsenal assistant manager Pat Rice watched the 19-year-old in action for Crystal Palace against Burnley on Saturday.
Crystal Palace are reportedly looking for around £12million for the 19-year-old forward.
Arsenal are keen to bring in the youngster as a potential replacement for winger Theo Walcott, who has less than 12 months left on his current contract.
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Chelsea have struggled to build momentum in the opening stages of the campaign and are currently looking over their shoulders at the relegation zone.
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