Despite the recent acquisitions of Henrikh Mkhitaryan and Pierre-Emerick Aubameyang, as well as a new long-term contract for Mesut Ozil, the squad needs serious attention if it is to challenge for honours next season. Arsene Wenger could also leave, marking the dawn of a new era.
And while 22-year-old Bellerin is one of the club's best and most important players, there have been murmurings of frustration surrounding the Spaniard and he is a saleable asset to raise funds and boost the existing budget.
Exactly who would be willing to pay £50m for Bellerin remains to be seen. The Mail's report names Juventus as having 'concrete interest', despite a recent rumour that the reigning Serie A champions had pulled out of the race.
Barcelona have also been heavily linked with Bellerin, who was schooled in the Catalan club's famed La Masia academy. But again, recent speculation has suggested they have decided to keep faith with current starting right-back Nelson Semedo rather than splash out big money.
With Sven Mislintat now heading recruitment, Arsenal's primary transfer plans this summer are said to focus on landing a new goalkeeper, defensive midfielder and centre-back.