The Gunners are making late moves in the window after Alex Oxlade-Chamberlain joined Liverpool.
It was looking like a day of outs rather than ins at The Emirates but there is now hope of a big signing.
Draxler has been linked with the Gunners for years but he’s always eluded Arsene Wenger.
However, Wenger is said to have revived that interest and is in talks with PSG for the German.
The Telegraph say negotiations have begun with under 11 hours left to go in the summer window.
It could be an indication that Alexis Sanchez is heading to Manchester City or merely a replacement for Oxlade-Chamberlain.
As it stands PSG are not ruling out a sale and might be tempted to cash in after the world-record £198m signing of Neymar.
Draxler is away with the national team on international duty and yesterday boss Joachim Low said there was little chance of the midfielder moving.
He explained: "I know for a fact that Paris don’t want to sell him.
“They are convinced of his outstanding qualities.
“He made such a big step forward there [at the Confederations Cup].
“I am convinced that he will come out on top at Paris. By now, he’s already playing a big role for us."
