Shakhtar Donetsk reportedly have little interest in negotiating a fee below their asking price for Mykhaylo Mudryk.
Since the summer, the winger has been heavily linked with a transfer to the Premier League with a number of clubs known to be monitoring his development.
However, with Mudryk having previously namechecked Arsenal in an interview before the Gunners held a position at the top of the Premier League, it has long been perceived that the North London outfit are the favourites for his signature.
The odds of a move to the Emirates Stadium coming to fruition have further shortened since the injury to Gabriel Jesus, with Mikel Arteta keen to bring in another high-profile name in the final third during January.
As it stands, however, the Arsenal hierarchy have not come close to agreeing a fee with Shakhtar, who stated in the summer that they would not sell Mudryk for a fee less than the £82m that Manchester United paid for Antony.
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A recent report claimed that Arsenal were willing to improve on their initial offer of €65m (£57.6m), a proposal which is also said to include add-ons.
Nevertheless, the process is now said to have become complicated with Chelsea ready to match or improve on any offer made by their London rivals.
According to the Evening Standard, Arsenal have been told that they must increase their bid if they wish to remain in the race for the 21-year-old.
Although Arsenal were hoping to conclude a deal for £60m, it has been alleged that Shakhtar want to recoup as much as £85m if they are to sell Mudryk in January.
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In a separate report by The Independent's Miguel Delaney, Chelsea have already informed the Ukrainian giants that they ready to out-bid Arsenal.
However, it is added that Mudryk would still prefer to sign for Arsenal if a deal can be agreed between the relevant parties over the coming weeks.
Shakhtar chief Darijo Srna is scheduled to be in London over the coming days and plans to attend Chelsea's fixture with Manchester City on Thursday.
Mudryk has made 18 appearances for Shakhtar in the league and Champions League this campaign, contributing 10 goals and eight assists.
