Carlo Ancelotti knows nothing about speculated interest from Arsenal, while Manchester City are ready to let Mikel Arteta leave for the Gunners.
Arsenal are pressing the accelerator in their search for a new manager after a 3-0 weekend defeat at the hands of Manchester City.
Ancelotti has been linked with the Arsenal job but, according to Spanish journalist Kike Marin, he knows nothing about any interest from the Gunners.
It is claimed that Arteta is in pole position to take the post at the Emirates Stadium, with Manchester City ready to open the door for him to depart.
Arsenal were claimed to have kicked off talks with Manchester City earlier on Monday and their swoop for Arteta appears to be picking up pace.
The north London giants would represent Arteta's first step into management.
The 37-year-old currently serves as the assistant to Pep Guardiola at Manchester City and was floated as a contender for the job before the Gunners turned to Unai Emery in 2018.
Arsenal currently have club legend Freddie Ljungberg at the helm in an interim capacity.
Arteta clocked a total of 149 appearances for Arsenal between 2011 and 2016, and joined Manchester City's coaching staff when he hung up his boots in 2016.
