The 25-year-old moved to Dalian Yifang of the Chinese Super League from Atletico Madrid in February 2018, along with teammate Nicolas Gaitan, the former joining for a fee in the region of
Arsenal attempted to bring the winger to north London during the January transfer window but failed secure a loan move as no funds were available to Unai Emery.
"There is now an offer on the table and the negotiations with my agent are progressing well," Carrasco said.
The same report does state, however, that the club in question are believed to be featuring regularly in the Champions League, seemingly putting an end to Arsenal's hopes of a deal.
With a host of changes expected to take place at the Emirates Stadium, despite the shoe-string budget, the club have also earmarked CSKA Moscow striker Fedor Chalov, according to Sky Sports. The Russian was the top scorer in the division with 15 goals