Arsenal and Liverpool are likely to be busy in the summer transfer window as they look to strengthen their squads ahead of next season.

Last season, the Gunners and the Reds were part of one of the most exciting Premier League title battles in recent years.

Arsenal pushed eventual winners Manchester City to the final day of the season, while Liverpool remained strongly in contention until late April.

Mikel Arteta's charges and Arne Slot's side will be eager to go all the way in the title race next season and also impress in the Champions League and domestic cups.

Both Arsenal and Liverpool have recently been linked with a world-class - and versatile - footballer once tipped to potentially become the "world's best player".

Now, journalist Ben Jacobs has reported that the player in question could now be available for less than PS40million.

According to The Mirror, Arsenal admire the Germany international's versatility and are keen to secure his signature this summer.

Meanwhile, TuttoJuve have reported that Liverpool view Kimmich as a 'key' target and feel lik he could provide real balance in midfield.

Jacobs, writing on GiveMeSport, says contract talks between Bayern and Kimmich are on standstill and, as such, a bid in excess of PS38million could see Kimmich leave.

"There is a very realistic chance that he leaves Bayern Munich," said Jacobs.

"They'll certainly consider offers for him, and remember, they can make a very healthy profit because they only paid RB Leipzig about EUR7million (PS6million).

"Any contract talks with Kimmich are at a complete standstill, and that means and exit is possible.

Kimmich will now have to hold direct conversations with Vincent Kompany to understand his role and the future that the club see for him.

"But if a bid comes in for Kimmich in excess of EUR45million (PS38million), then Bayern will give serious consideration to that."

Who is Arsenal and Liverpool target Joshua Kimmich? Kimmich is a 29-year-old footballer who can play - and excel - in a variety of different positions.

He is a central midfielder by trade, but has been playing at right-back of late. He can also play at centre-back, left-back, as a No. 6 and as a No. 10.

Kimmich has clocked up 390 competitive appearances for Bayern, registering 42 goals and 104 assists. He has also won 90 caps for Germany.

His trophy haul is impressive. He has one Champions League, one FIFA Club World Cup, eight Bundesliga titles and a multitude of German domestic cups to his name.

"I see him as a top right-back, left-back, centre-back, No.6, No.8, No.10... he has qualities to be anything," Mourinho previously told DAZN, via the Bundesliga website.

"He's intelligent and understands what he has to do here and what he has to do there. I think he's phenomenal - absolutely phenomenal player."

Meanwhile, Pep Guardiola previously said of Kimmich: "I told him he's one of the best centre-backs in the world. He's got absolutely everything."

And Hansi Flick previously told 51, via the Bundesliga website: "If he manages to channel his extraordinary ambition a little better and steers it in the right direction, then he can become the world's best player.

"He's already a world-class player in several positions but he can take another step - and I hope he does."