Chelsea are one of several clubs to have been offered the chance to sign Myles Lewis-Skelly this summer, raising doubt over his future at Arsenal.
The 19-year-old had looked set for a summer exit for much of last season, having fallen behind Piero Hincapie and Riccardo Calafiori in the pecking order at left-back.
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Lewis-Skelly also had no opportunities in midfield until the final weeks of the campaign, when Mikel Arteta threw him in at the deep end.
The teenager was superb when starting there for the first time against Fulham in May, so much so that he started for Arsenal in the Champions League final.
That run of matches seemingly ended any speculation over Lewis-Skelly's position at the club and he has started every pre-season match this summer.
With Declan Rice and Martin Zubimendi only returning at the start of this week after extended breaks following the World Cup, Lewis-Skelly has looked set to play a key role in the early stages of the season.
However, it is understood that several clubs, including Chelsea and Manchester United, have been approached by intermediaries offering them the chance to sign Lewis-Skelly.
Chelsea are believed to have made enquiries with Arsenal about the situation as a result, but there is no indication yet that they will pursue a move.
Arsenal's record sale is still just the £35million they received from Liverpool for Alex Oxlade-Chamberlain in 2017.
It would take a fee well in excess of that for the Gunners to sanction Lewis-Skelly leaving this summer, but it has not been ruled out that a huge offer would be considered.
Arsenal spent £75m on Bruno Guimaraes and are still in the market for a winger and a versatile defender.
The club would prefer to sell the likes of Gabriel Jesus and Fabio Vieira to help fund that, but a more high-profile departure is still a possibility.
The Gunners are in a strong position with Lewis-Skelly's contract, a year on from the teenager signing a new deal through to 2030.
A sale would represent pure profit on the club's balance sheet, easing the situation with the financial rules.
