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The Gunners have previously indicated that they are exploring the possibility of signing a wide player, and have made two bids for Shakhtar Donetsk winger Mykhaylo Mudryk, both of which have been rejected.
There have also been suggestions that Arsenal may be looking to bring in an additional forward to ease the burden on Eddie Nketiah.
The potential acquisition of Felix comes in the wake of Gabriel Jesus’ injury, which may keep him out of action until February.
The £45 million summer signing from Manchester City has been making good progress in his recovery, according to social media updates.
It is worth noting that Arsenal’s current financial demands for Felix may be too high, with CBS Sports claiming that the club ideally wants an option to buy rather than an obligation set below £70 million and a loan fee around £5 million.
If the Gunners are able to reach an agreement with Atletico Madrid and sign Felix on loan, it will be thanks to the hard work of manager Mikel Arteta and sporting director Edu in the summer transfer window.
After the January window closes, Arsenal will be able to name an updated 25-man squad for the Premier League,
with no more than 17 overseas players and the remaining spots available to homegrown players. Players are considered homegrown if they have been registered with a club affiliated with the Football Association or Welsh FA for three seasons, or 36 months, before their 21st birthday.
