It has been far from secretive that the relationship between Rooney and his current club United has broken down in recent months, and a move away from Old Trafford has seemed like the likeliest option all summer.
Despite keen interest being shown in the England forward from teams across the globe, Arsenal are the first club to actually submit a concrete bid if these reports are to be believed.
United are still very much of the opinion that Rooney can be convinced to stay at Old Trafford, and as such the offer has currently been ignored by the board of directors.
Rooney is due to meet with new United boss David Moyes on Monday.
This will be a critical event in the Rooney saga. If the man who gave Rooney his first chance in professional football (ironically against Arsenal) at the age of 16 can convince "Wazza" to stay in Manchester, then there will be a lot of very disappointed clubs across Europe.
However, if Moyes cannot give Rooney the assurance that he will play a majorly contributing factor in the United first XI set-up this coming season (something that Rooney cites as a primary cause of his unhappiness at the club), then the 27-year-old is likely to find himself on the move.
Will Wayne Rooney be playing for Arsenal next season?
It is believed that Jose Mourinho's Chelsea are likely to come back with a counter-offer which will eclipse that of the Gunners if news does break that Rooney wants out.
However, with the huge transfer kitty that Arsene Wenger has been handed this season, I don't see that stopping the north Londoner's attempts to sign the United ace any time soon.
With Barcelona, Real Madrid, Monaco and Paris St Germain all also interested in acquiring his services, this could turn into one of the mightiest bidding wars in recent memory.
Will Arsenal's decision to cast the first stone be beneficial in the long term? Only time will tell.