The Daily Mirror is reporting that the experienced Brazil international is eager to move to Arsenal after his contract expired at Paris Saint-Germain earlier this summer.
The same article states that the Gunners are facing competition from Manchester City, Inter Milan and Tottenham Hotspur for the veteran South American full-back.
According to the same story, Alves would prefer to move to Arsenal given his past working relationship with Emery at the Ligue 1 champions PSG as recently as 2017.
The Daily Mirror goes on to add that the 36-year-old is attracted by the idea of a move to The Emirates as Alves winds down a prestigious career in European football.
The report goes on to say that Alves is prepared to take a pay cut from his current £230,000-a-week deal to secure a move to Arsenal, but the experienced full-back would still want around £200,000 a week.
The Gunners are in the market to sign a full-back this summer after having failed with a number of bids to sign Celtic defender Kieran Tierney.
Arsenal have only signed Brazilian teenager Gabriel Martinelli in a £1.6 deal from South American outfit Ituano so far this summer.
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