The Gunners are desperate for fresh faces as they look to bounce back from a disappointing campaign.
Unai Emery was unable to secure Champions League football as his side finished fifth before being thrashed by Chelsea in the Europa League final.
Arsenal need reinforcements at the back and they’re also keen to bring in competition on the wing.
Fraser is among their targets following a stunning campaign for Bournemouth that saw him score eight times and provide 15 assists.
But Arsenal could focus their attention on Yannick Carrasco after the Belgian was suspended by Chinese club Dalian Yifang.
Carrasco came close to a loan switch to the Emirates in January before the deal collapsed.
And Starsport understands Arsenal are eyeing him as an alternative to Fraser.
The transfer revelation comes amid news that:
“Carrasco came close to a loan switch to the Emirates in January.”
Fraser is out of contract next summer and Bournemouth are looking to cash in to avoid losing him for free.
But the Cherries are playing hardball over the fee, which could frustrate Arsenal and focus their attention elsewhere.
Emery reportedly has £50m to spend this summer, with any additional funds expected to be raised by player sales.
And with Carrasco available for £30m, Arsenal could give up on Fraser.
But they may face competition from Bayern Munich who are seeking replacements for Franck Ribery and Arjen Robben.
Carrasco wants out after being suspended for returning back late after international duty and missing a game.
Meanwhile, Arsenal are closing in on the signing of St Etienne defender William Saliba.
But the Gunners may have to loan him back to the French side as part of the deal.