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Captain Laurent Koscielny’s determination to leave the Emirates by refusing to tour the United States has prompted a rethink in the club’s transfer priorities.
Dias was previously not high on their list of summer targets but with the Gunners in danger of losing one of their key centre-backs, it seems a bid for the Portuguese international could be back on the agenda.
The 22-year-old has also been on Manchester United’s radar in recent months but the Red Devils are said to be focusing their efforts on signing Leicester’s Harry Maguire at the moment.
Arsenal will, though, find negotiations for Dias difficult with Benfica likely to hold out for his release clause, which is set at a hefty €60m (£54m).
Much like they did in their first bid for Wilfried Zaha, the Gunners are likely to try and offer as little upfront as possible, with the addition of substantial future add-ons.