Report: Arsenal prefers Mkhitaryan to Mahrez

Days after reportedly rejecting a contract extension at Borussia Dortmund, Armenian star Henrikh Mikhitaryan could be poised for a move to north London, with Arsenal understood to favour the attacking midfielder over Leicester City's PFA Player of the Year Riyad Mahrez.

With Granit Xhaka's transfer from Borussia Monchengladbach already finalised, and a shocking move for Mahrez's teammate Jamie Vardy seemingly days away, Arsenal appears to be all-in on a busy summer transfer window, according to ESPN FC.

On the heels of an astonishing title-winning campaign, Leicester's big three of Vardy, Mahrez, and N'Golo Kante have all become transfer targets, with Arsenal appearing the most likely to clean the club's cupboards this summer despite a maiden Champions League voyage for Claudio Ranieri and Co.

Mkhitaryan, 27, made 32 Bundesliga appearances for runners-up Dortmund this season, pairing 11 goals with 15 assists as part of Thomas Tuchel's lethal three-pronged attack alongside Marco Reus and Pierre-Emerick Aubameyang.

The Armenian international has a year left on his deal at the Westfalenstadion, and Dortmund may be willing to sell its star attacker to avoid losing him for nothing next summer. With Mkhitaryan's super-agent Mino Raiola conceding that his client is likely to leave, Arsenal is understood to be monitoring the player in hopes of a summer move.

Anticipating the departures of both Mkhitaryan and Aubameyang - who is reportedly being monitored by Real Madrid - Dortmund announced the signing of rarely used Bayern Munich attacker Sebastian Rode on Monday.

Potential suitors for the attacker will need to pony up, with speculation suggesting Dortmund has slapped a €35-million price tag on the former Shakhtar Donestsk standout.