For now, six other clubs have immediately registered interest in acquiring him for significantly more.
Aston Villa and Leeds United have also held preliminary talks with Alajbegovic's representatives, as have Napoli, AS Roma and Inter Milan from Serie A. Arsenal's interest is driven by the winger's profile — quick, technically capable and able to operate across the front line — which aligns with Mikel Arteta's preference for players capable of filling multiple roles.
Alajbegovic, born in Cologne to Bosnian parents, grew up in Germany but represents Bosnia and Herzegovina internationally. He has been named in the Bosnia squad for the World Cup — appearing in Group C alongside Canada, Switzerland and Qatar — with his performances expected to further drive up his value.
Bayer Leverkusen are determined to keep him but are aware the clubs circling are discussing fees approaching £18 million, a significant profit margin over their buy-back cost that will be difficult to dismiss entirely. More talks are expected in the coming weeks.
His father Semin, who serves as his agent, spent his own career playing in Germany's lower tiers and is understood to be fielding enquiries professionally while allowing Alajbegovic to focus on tournament preparation.
Separately, Arsenal have confirmed the departure of right-back Josh Nichols, who has signed a two-year contract with Croatian third-tier club NK Kustosija upon the expiry of his Arsenal deal. The 19-year-old made his only competitive appearance for the club against Bolton in the 2024-25 Carabao Cup.