The Gunners have already agreed the transfer of Nice shot-stopper David Ospina, per David Hytner in The Guardian, but are now seemingly looking to add the Spanish veteran to their increasingly formidable goalkeeping unit.
Spanish newspaper Sport reveals the terms the Gunners have offered Casillas, who has lost his first-team place at Real, via Jamie Anderson in the Express:
Reports from Spanish newspaper Sport, claim Arsenal have offered the 33-year-old international a five-year deal worth £1.4m per-year.
Though the reports mention nothing of a transfer fee, it is believed Madrid would be willing to do business for around £4m.
Casillas still has three years remaining on his contract, but after falling behind Diego Lopez in the pecking order - his Bernabeu exit may be accelerated.
Lopez was the starting keeper for Real in La Liga last season, and the imminent singing of Costa Rican Keylor Navas—per AS via Luke Augustus in the Daily Mail—is set to reduce Casillas' playing time even further.
However, Los Blancos boss Carlo Ancelotti recently commented on his goalkeeping situation, suggesting the No. 1 spot is still up for grabs, per Marca:
Keylor Navas is not a Real Madrid player for now. There are three goalkeepers here. For us the goal is not a problem. At the beginning of the season I will decide which keeper is to play.
Nevertheless, Arsenal would seem an odd move for Casillas to make, as with Wojciech Szczesny Arsenal's current No. 1, and Ospina set to challenge him for the position, Casillas would face a fight to get regular first-team football.
However, he is reportedly interested in the move, per El Confidencial via 101 Great Goals, and he would be a fantastic player for Gunners boss Arsene Wenger to sign given his vast experience at the very top level.
Besides bringing new players into the club, Wenger may have a job on his hands to keep Santi Cazorla at the Emirates with Atletico Madrid reportedly interested in signing the versatile midfielder, per Simon Jones in the Daily Mail:
Arsenal’s Spain midfielder is a long-term target of [Atletico boss] Diego Simeone and the Argentine hopes this could be the year he lands the 29-year-old.
The Gunners will not let Cazorla leave cheaply, however, and would demand at least £15m for the diminutive star.
The arrival of Mesut Ozil last summer saw Cazorla forced out to the wing for the Gunners, but with Theo Walcott's imminent return from injury and the recent signing of Alexis Sanchez, the Spaniard could see his playing time reduced.
As such, Atletico may be able to tempt Cazorla away from the Emirates with the promise of first-team football, although he suggested recently he wanted to stay on and win more trophies with Arsenal, per Paul Clennam on Goal.com:
"We hope to win more trophies—I want to win the Premier League or Champions League."
Indeed, Cazorla could play a huge role for Arsenal in the coming season as his versatility and quality are a big asset. The Gunners would do well to hang on to such a player, per football writer Ben Fairthorne:
It is certainly true that if Arsenal are looking to win a Premier League title in the coming season, they need proper depth, and Cazorla is a key part of that.
To let him go would only weaken what is shaping up to be a strong squad and could cause the same problems as last season when injuries and fatigue saw them drop drastically off the pace in the English top-flight.