Arenal are hoping to tie up a double transfer swoop for two attacking players from their Premier League rivals, as Mikel Arteta tries to improve his side's fortunes.
It wasn't a happy time for Arsenal last season as the Gunners could only finish in eighth place in the league, and missed out on European competition for next season altogether.
Arteta has already brought in Albert Sambi Lokonga, from Anderlecht, to improve his midfield and is hoping to add Brighton centre back Ben White.
Once that transfer is confirmed, Arsenal will look to add to their attacking options, with reports of a double swoop from rivals Leicester City and Chelsea.
According to the Daily Mail, Arteta wants to sign James Maddison from Leicester. The Foxes won't accept an offer of £50 million, the same price that White is being signed for, but the offer of players in a swap could help the deal.
Reiss Nelson and Ainsley Maitland-Niles could be included in the deal for Maddison, who signed a new contract last summer after Brendan Rodgers' side reportedly rejected £70 million for the 24-year-old.
Nelson could be used as a direct replacement for Maddison and the club tried to sign Maitland-Niles on loan in January, before he went to West Brom for guaranteed first team football.
Abraham was one of Frank Lampard's regular starters but found his opportunities lacking when the former midfielder was replaced by Thomas Tuchel at the beginning of this year.
He made only six appearances for the Blues after the German became manager, and it's no surprise that he's available this summer.
The report claims that the 24-year-old striker is expected to join Arsenal on a year long loan with an obligation to buy the striker next summer for £40 million.
Spurs and West Ham both wanted to sign the striker permanently this summer but have so far not been willing to meet the Blues' valuation.
Chelsea are hoping to sign a top level striker this summer and getting Abraham's wages out of the club would certainly help with that.