Schalke value Draxler at £34million and the Gunners will face competition from Italian giants Juventus to sign him.
Juventus are reportedly willing to match Schalke’s asking price for Draxler. Draxler signed a new contract at Schalke earlier this year.
Arsenal are reportedly prepared to spend around £30million on Reus, who has been strongly linked with a January move to the Emirates.
The Borussia Dortmund star has a £34million buyout clause in his contract.
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The start of the 2017-18 Premier League season is just around the corner and is shaping up to be one of the most competitive yet.
As always it is the so called “big clubs” that have splashed the most cash in the transfer window so far this summer. Manchester United or City? Arsenal or Tottenham? Who are the winners and losers of the transfer window so far?