Arsenal's interest in Shakhtar Donetsk midfielder Mykhaylo Mudryk is well known, having pursued him in the last transfer window.
The 22-year-old Ukraine winger has scored 10 goals in 18 appearances for Shakhtar this term, enhancing his value.
Mudryk has also had interest from Sevilla and Chelsea, with the Gunners having reportedly previously made two bids for his services.
TOP STORY - GUNNERS CLOSE IN ON AGREEMENT FOR MUDRYK DEAL
Arsenal have tabled a fresh third bid worth €70m (£62m) plus add-ons for key target Mykhaylo Mudryk of Shakhtar Donetsk, claims Fabrizio Romano.
Talks are ongoing with no breakthrough but the two parties are getting closer to agreement, while Mudryk posted a praying emoji on Instagram in a sign he wants to make the move.
The Daily Express claims that the two clubs have come to an agreement on the fee, with negotiations entering the "final stage".
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