According to latest reports, Paris Saint-Germain are closing in on a move for Wolfsburg attacking midfielder Julian Draxler.

The 22-year old is one of the long-term targets of Arsenal and have recently expressed his desire to leave his current club after the end of Euro 2016 campaign.

The announcement has alerted a number of clubs as the player is one of the highly-rated youngsters both in Germany and Europe. Arsenal are set to miss out on the youngster yet again after being linked for years as Wolfsburg are set to accept a huge offer from PSG, according to Sunday People.

The German star who moved from Schalke to Wolfsburg last summer for a reported fee of £25.5m. However, he has not settled at his new club as the club failed to reach European football for the upcoming season.

The young German international is believed to have a massive £63 million release clause in his contract which has made the Premier League clubs not make a move for the talented midfielder.

Arsenal who are yet to make an impact signing this summer has stepped down their interest after the price tag and PSG who have let go their star player Zlatan Ibrahimovic are keen to add more attacking options this summer as they look for European glory.

Wenger needs to shell out a considerable amount of money to sign him as Gunners need to break their club record but PSG looks favorites to sign the midfielder.