According to a report from the Daily Cannon, Arsenal has made a €16 million bid for 22 year old Juventus central midfielder Mario Lemina. Juventus reportedly turned down the offer, as they were looking for a higher bid.
The Mirror (via reports in Italy) then reported that Watford has made a better offer to Juventus worth €20 million, and Arsenal would have to make a similar offer in order to get Lemina.
Lemina had a good year last season splitting time between Juventus and Marseille. He made a combined 14 league appearances, scoring two goals, and posting a WhoScored.com rating of over 7.00.
Lemina would likely be used in a backup role if he moved to Arsenal, but if he moved to Watford he would get the opportunity to see more consistent playing time.
Watford seem to want and need Lemina more desperately than Arsenal do, so it seems unlikely that the Gunners will be able to get the midfielder. However, they definitely have the budget to acquire him if they so desire.