The Gunners were understood to have indicated an interest in the Algerian international a few weeks back, but were allegedly reluctant to match Napoli’s €12m (£8.6m) valuation of the player.
Negotiations seemed to have stalled between both clubs, but with Arsenal’s Nacho Monreal appearing to be heading to Athletic Bilbao this summer, Spanish paper Marca claim the Gunners have revived their interest in Ghoulam with a bid of €10m. And it seems however, that Arsenal would not be willing to pay anything above this figure.
London rivals Chelsea are understood to also be in the race to sign Ghoulam from Napoli, with Jose Mourinho looking for a replacement for Fellipe Luis - who wants to leave the club.
Luis had arrived Stamford Bridge last season from Athletico Madrid hoping to wrestle starting rights from Cesar Azpilicueta; but the Spaniard’s impressive displays week in week out meant Mourinho stuck with him as his preferred left-back choice.
Despite Chelsea’s interest in Ghoulam, Italian tabloid Gazzetta dello Sport suggests Arsenal seem to be the clear favorites to land him, and the 24-year-old Algerian would fancy his chances against Kieran Gibbs for a starting shirt in the Gunners squad.
Ghoulam was signed by Rafael Benitez from French Ligue 1 side St Etienne in January 2014, and has made 36 league appearances for the Partenopei, as well as having 11 caps for Algeria.