Maddison has emerged as a possible target in the last week or so having been linked with a move to the Gunners historically.
But amid a large transfer valuation of £50million, according to the Mail, Arsenal could get creative in their bid to add a creative midfielder.
According to the report, the Gunners could offer up fringe players Reiss Nelson and Ainsley Maitland-Niles to reduce the upfront fee and ‘sweeten the deal’.
Nelson himself has been linked with a move away this summer, while Maitland-Niles spent the second half of last season on loan at West Brom.
The problem for Arsenal is that Maddison is under contract at Leicester until 2024 as things stand and the Foxes have the lure of Europa League football next season.
Arsenal, meanwhile, will not compete on the European stage in the coming season having missed out for the first time in 25 years with an eighth-place finish last term.
And unproven commodities in Nelson and Maitland-Niles are unlikely to be enough for the Foxes to be convinced of selling their star midfielder, even with cash on top.
Perhaps a player like Joe Willock, who proved he is more than capable of playing a Maddison-like role in the Premier League last season with Newcastle United, could be a more attractive option.
Leicester would then be getting their hands on a young goal-scoring, creative midfielder while also receiving cash to improve other areas.