Marc Overmars and Arsenal team-mate Patrick Vieira have both been linked with transfers to Italy.
While Overmars is at the centre of a £15 million transfer tussle between Italian champions Lazio and their bitter rivals AS Roma, speculation links Vieira with a £14m move to Juventus.
Overmars joined Arsenal from Ajax in July 1997 for £7m, but has yet to commit himself to the London club for next season - fuelling speculation he will be leaving when Euro 2000 is over. Lazio have already made their interest known and now Roma have joined the chase.
Arsenal will be reluctant sellers, but if Overmars makes it clear he wants to leave Highbury after three seasons, they will ask for a massive fee.
Arsenal manager Arsene Wenger has already lined up a replacement in Olympique Marseille midfielder Robert Pires. He is a member of the French Euro 2000 squad and is certain to leave Marseille this summer.
Juventus have made no secret of their admiration of Vieira, who starred for France in their quarter-final win against Spain. Reports from Italy today said a £14m deal is close to completion, but there was no confirmation of the news from Highbury.
If Arsenal cannot hold on to Vieira it would have a deflating effect on club morale because the former Milan player is so highly rated.
Meanwhile, according to reports in his home country, Chelsea's Didier Deschamps has decided to quit international football after Euro 2000. Deschamps, who is set to become the first Frenchman to win 100 caps in their semi-final against Portugal in Brussels tomorrow night, apparently told team-mates of his plans to retire after their 2-1 win over Spain.