Partey is hoping a deal can be struck between the two clubs.
The Ghana international, 26, has told those close to him he has ambitions of proving himself in the Premier League with a move to the Emirates Stadium.
Partey has a release clause of around £45million and Atletico are braced for approaches but also have an interest in Arsenal striker Alexandre Lacazette.
The report claims Arsenal could consider a swap deal, offering Alexandre Lacazette to Atletico with Partey arriving at the Emirates Stadium.
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