Arsenal are reportedly looking to spend £27million on Roma midfielder Lorenzo – a sum that is almost half of Unai Emery’s summer transfer budget.
Gunners manager Unai Emery has just £45m to rebuild his squad this summer after his side missed out on Champions League qualification.
Pellegrini's contract at the Serie A club does not expire until the summer of 2022 but Roma are reportedly keen to agree a new one without the release clause.
The Italy international made 33 appearances last season, in which he scored four goals and contributed seven assists.
