The Frenchman has previously been rated at £70million however the Magpies would likely demand significantly north of that figure amid their own spending spree.
“The one player I really like, but I’m not sure Arsenal could sign him because he would want to play every game, is Allan Saint-Maximin,” Sagna told casino website Lord Ping.
“I really like this player a lot. I love the way he plays - with so many tricks and skills - he is a nightmare for any defender.
“I would love to see him play for Arsenal because it is a joy to watch him play and I think he would provide a spark and something different in the squad. He is a player that can electrify a match, a stadium and make the difference. I would love to see him wearing an Arsenal shirt.”
Youri Tielemans is one player subject to intense speculation over his future this summer and Sagna backed the Leicester midfielder to star in north London, should he make the switch.
“He did well at Monaco and he has been excellent for Leicester,” he added.
“He has a lot of qualities and is a good passer of the ball. He is a very good player and a player like him could be a positive addition for the club.”