The Argentinian international has been in excellent form this season with 13 goals in 13 Serie A appearances, but the 24 year old has a €110million (£98m) release clause which is concerning Inter.
Icardi is believed to be happy to stay at the Italian club but Inter are powerless to stop the forward from leaving if a club pays the buyout fee. Sport Mediaset say that Real are the only club that could realistically pay the amount, but they believe the Gunners remain attentive to the Argentine’s situation.
The London club were reportedly prepared to pay €100m for Monaco’s Thomas Lemar in August so the figure isn’t as unrealistic for Arsenal as they would suggest, but with Alexandre Lacazette having only arrived from Lyon in the summer, it seems unlikely that manager Arsene Wenger would consider signing another forward so soon.
It is likely that the Gunners would want to placate fans if either Alexis Sanchez or Mesut Ozil does leave the club but whether that means they would make a move for Icardi, it remains to be seen.