The Gunners have reportedly made an offer of £7.1 million for the defender, which the paper expects the Italians will reject.
It is believed that they are holding out for as much as £8.6million for their man, although that difference is a relatively small one and it is expected that a deal will be done at some point.
The former Saint-Etienne man will likely be brought in as a replacement for Spaniard Nacho Monreal, who is looking increasingly likely to return to Spain and join Athletic Bilbao.
Arsenal though, will surely not allow the defender, who has just a year left on his contract, to leave the Emirates until they have secured a replacement.
They would be confident of securing Ghoulam but could face competition from Atletico Madrid and PSG according to Marca.
What not for Kieran Gibbs?
Ghoulam’s potential arrival would bring into question the future of Kieran Gibbs; with the full-back never having truly established himself at the club.
He is arguably the first choice of Arsene Wenger but a series of injuries has limited his chances, with last season seeing Monreal establish himself in the side is his absence.
If he can’t keep fit then it is not hard to imagine Wenger would elect to go with Ghoulam long-term, making Gibbs the number two at the club, a position he is unlikely to be pleased with for long.