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Reports from Algeria newspaper Le Buteur claims Arsenal have agreed a deal in signing Riyad Mahrez as Wenger met with both player and agent.
The PFA player of the year has been heavily linked with a move to the Emirates with reports claiming he has agreed a deal to Arsenal.
However, Claudio Ranieri is desperate in keeping Mahrez and reports claims the club has seen a £100,000 a week offer turned down fueling speculation he wants to move away from the King Power Stadium.
Ranieri admitted at the weekend Mahrez has been distracted by the unwanted rumours linking him with a move away from the King Power Stadium.
Despite all the rumours, there is yet an official statement of an agreement between the Gunners and Leicester City.
The 25-year-old Algerian international guided the Foxes in winning the Premier League scoring 17 goals and 11 assist.