The Gunners are believed to have made the German star their top target for the summer following their decision to opt out of securing a big money move for his signature last month.
The 20-year-old is regarded as one of the Bundesliga’s finest talents, and is already a regular for his side both domestically and in Europe despite his youthful age.
Although it has long been speculated that he is keen to stay at Schalke to further his development in the short-term, a summer switch away from Gelsenkirchen has been mooted in recent times.
Draxler himself says that he is looking for a new challenge, opening the door for a big money transfer in six months’ time:
“I can make my own decision about my future and I want a new challenge,” he is quoted by The Metro.
“It’s no secret that I have a buyout clause in my contract and so from year-to-year I think about what is best for my development.
“It leaves room for a lot of speculation, but I am calm and it’s also good for all sides.”
Draxler’s release clause is said to be in the region of £37m, but Arsenal may face a battle to snap him up with Bayern Munich also keen.