According to Sky Sport Italia, Carrasco wants to sign for a Premier League club and has "given his approval" to Arsenal, despite interest from Manchester United.
Arsenal are in the hunt to nab Porto midfielder Hector Herrera on a free transfer in the summer, according to Tuttomercato.
Aside from that, the Belgian worldwide has raw pace, which makes him a threat on the counter while his ability to play quick passes in the final third certainly tunes in well with Arsenal's high-tempo game in attack.
But it seems as though Arsenal will simply not be able to match his huge wages and transfer fee in this window.
But Terreur has now changed his tune.
Aaron Ramsey was not offered a new contract at Arsenal.
The Sun is reporting that Arsenal have held "successful talks" with Dalian Yifang over the transfer of Yannick Carrasco.
‘The Punisher’ Season 2 Trailer Reveals Frank Castle’s New Mission
Do you think it will be better than the first season? Be sure to tell us all of your thoughts in the comments down below! When Jigsaw's accomplices find out that Castle and Bendix have partnered together, they set out to kill them both.
Manchester United have also supposedly been offered the chance to sign the former Atletico star.
Lack of resources in the wide areas, for one, has been one of Arsenal's main issues this season (apart from the defence of course).
The midfielder is yet to agree new terms with the Portuguese club, with Atletico Madrid, Roma and Wolves also said to be interested in his services.
Carrasco has quick-feet and is a pretty useful player to have during the transition as it's hard to stop him when he is driving at the opposition half.
It remains to be seen how much truth is in these reports.