The price top Dutch club team Ajax has put on the Belgium defender is £17m (€22m).
According to reports from the Netherlands, Ajax may be forced to sell Vertonghen, 23, if they fail to qualify for the Champions League this term.
Should that happen, the North London team are favourites for the Belgium international who would be happy to team up with Red Devils teammate Thomas Vermaelen at the heart of Arsenal’s defence.
“Arsenal have been watching Vertonghen for a long time and he wants to join Vermaelen,” a source close to the deal said. “He fits the bill for Arsenal because he is calm, comfortable in possession and has a strong mentality.”