The 21-year-old has attracted interest from a number of Europe’s top clubs, including Manchester United and Bayern Munich.
AC Milan are reportedly proving to be the biggest competition for his signature, but have been told Upamecano has been ‘promised’ to Arsenal, reports Sempre Milan.
His current deal runs out next year, and Leipzig are keen to sell this summer if he can’t be persuaded to sign a new deal.
And while his £53million release clause would be at the top end of what Arsenal can afford, he would offer some vital solidity in a leaky Gunners defence.
Leipzig are still hopeful they can keep hold of the player, but with Timo Werner already set to depart, they are aware other players could follow suit.
The club’s chief executive Oliver Mintzlaff said recently: “Upa is an extremely important player for us and one of the most sought after talents in this position in Europe.
“One thing we know is that we have a very clear understanding with him and his adviser, that we will not let him go free.
“We cannot afford that as a club.
“So there are two options: extend or change. I am absolutely certain that we will know relatively quickly which direction we are going.”