A small difference in the asking price and the Gunners' offer has blocked the north London giants from official signing the Swiss ace.

The English Premier League season has only ended a few days ago, with Arsenal pipping Spurs to a second-place finish in the standings on a dramatic final day, but the Gunners already look to wrap up their first piece of business for the summer transfer window.

The north London giants have long been linked with a move for Swiss midfielder Granit Xhaka, with The Mirror writing on Monday that Arsene Wenger’s crew have agreed a deal in principle for the Borussia Monchengladbach captain.

According to the British news outlet, Xhaka could become a Gooner before the upcoming Euro 2016 tournament in France, with the deal expected to be complete in the next few days.

“The season’s over now and there might be discussions tomorrow regarding the matter, we will make it together,” the Mirror quote the player as saying. “The decision will definitely be before the European Championship.

“I’m the wrong person to be asked [about a possible move], you might need to check that with [sporting director] Max Eberl.”

However, Bild have added an even juicer claim to The Mirror’s report, stating that the transfer is all but complete, but the club are yet to agree on a fee.

Surprisingly, the popular German tabloid write that the difference is merely €2m, with Arsenal offering €43m whilst the Bundesliga outfit are holding firm on their €45m asking price.

Regardless, Bild also insist that the deal is pretty much wrapped, quoting the 23-year-old as saying: 

“I played my first competitive match for Borussia (Mönchengladbach) in the cup in Darmstadt. This was followed by four wonderful years. Now perhaps the last game again in Darmstadt – the circle has virtually closed.”

Die Fohlen played Darmstadt in their last game of the season, winning 2-0, with Xhaka reportedly receiving a standing ovation and embraces his team’s bench after coming off in the 83rd minute.