Arsenal have, so far, only made one addition this summer in the form of the relatively unknown forward Gabriel Martinelli.
But the club believe they are nearing closer to the signatures of Ceballos and Tierney.
The former has been a target for the majority of the summer while Ceballos’ stock grew following Spain’s victory at the U21 European Championships.
Unai Emery has a list of positions he wants to strengthen as he heads into his second year in charge, one of which being full-back which makes a move for Tierney all the more paramount.
And Sky Sports reporter Dharmesh Sheth has revealed that whispers from within the Emirates suggest the duo could soon end up in north London.
He said: “I’m led to believe there’s growing confidence Arsenal can get the deals for Real Madrid midfielder Dani Ceballos and Celtic left-back Kieran Tierney over the line.
“Tierney on a permanent deal if they can sort out the structure of payment.
“Ceballos on loan because he sees his long-term future at Real Madrid, but he wants to get more game time now to impress Zinedine Zidane.”
Arsenal have already had several bids for Tierney knocked back with Celtic keen not to be shortchanged.
The Scottish champions have previously let the likes of Virgil van Dijk and Victor Wanyama leave for pitiful fees given the success they’ve gone on to achieve.
And thus manager Neil Lennon is standing firm of his stance that any offer for Tierney must be substantial.
A fee of around £25m is thought to be enough to prise him away from Parkhead.
As well as a full-back Emery is also desperate for a centre-half, not only because Laurent Koscielny is desperately trying to force through a move back to France.
It is understood that his compatriot William Saliba, who has impressed at Saint-Etienne, is nearing a move to the Emirates following a lengthy transfer saga.
Rivals Tottenham were rumoured to have stolen a march on the teenager, but Arsenal’s long standing interest looks to have paid off with a £25m deal nearing.