Arsenal are reportedly admirers of Wolverhampton Wanderers winger Pedro Neto and are looking to negotiate a deal before the end of the summer transfer window.

The Gunners have already enjoyed a productive period in the market with the likes of Oleksandr Zinchenko, Fabio Vieira and Gabriel Jesus all moving to the Emirates Stadium.

Mikel Arteta may also eventually use Brazilian teenager Marquinhos as a first-team option with the 19-year-old said to have made a positive impact since his arrival from Sao Paulo.

However, according to The Athletic, Arteta is still interested in acquiring a new player who can operate on either flank with Nicolas Pepe expected to leave the club in due course.

The report suggests that super-agent Jorge Mendes, who represents Neto, has held discussions with both clubs over the past month in a bid to reach a resolution.

As it stands, Wolves are said to have little interest in parting ways with a player who only extended his contract at Molineux until 2027 earlier this year.

Owners Fosun International have also just cashed in on Morgan Gibbs-White in a deal which could eventually reach £42.5m, that sale coming on the back of the purchases of Goncalo Guedes and Matheus Nunes.

Nevertheless, much may depend on the size of any proposal put forward by Arsenal with Wolves known to be keen to sign a new forward before September 1.

That is a consequence of Bruno Lage's side struggling for goals in the Premier League with their only strike of the campaign coming in the early stages of their opening fixture against Leeds United.

Neto was guilty of squandering a chance to score into an empty net against Fulham on matchday two, but the Portuguese is regarded as a first-choice player by Lage.

The 22-year-old has started in each of Wolves' three outings this season after successfully recovering from a broken kneecap which led to him missing the majority of 2021-22.

Since his return, however, Neto has contributed just one goal and one assist in 703 minutes of top-flight football as he continues to fail to reproduce the form which earned him his first caps for Portugal before his injury.

As it stands, the report adds that there is uncertainly over what price it would take for Wolves to listen to any offers from Arsenal or another top European club.