Last week, it was reported that the Premier League leaders had joined the race for the in-demand Denmark international, who is thriving at Deutsche Bank Park.
Lindstrom formed a part of Frankfurt’s Europa League winning squad last year – registering four assists in nine continental outings and playing 70 minutes against Rangers in the final.
The 22-year-old ended the campaign with a total of five goals and nine assists from 39 appearances in all competitions after leaving boyhood club Brondby in a £6.3m deal in 2021.
Lindstrom already has three goals to boast from 10 games in the 2022-23 season, including the winner against Marseille in last week’s Champions League Group D clash.
According to German outlet Bild, Arsenal have now made contact over a potential swoop for Lindstrom, and the Gunners are keen to discuss a January deal with Frankfurt.
The midfielder is under contract at Die Adler until the end of the 2025-26 season, but a relatively modest £17m could supposedly be enough to secure his services.
Furthermore, Lindstrom is understood to appeal to Mikel Arteta given his versatility, with the Dane operating on both wings and in the number 10 role in the early stages of the new season.
Lindstrom’s total tally for Frankfurt now stands at eight goals and nine assists from 49 matches, but Arsenal will seemingly have a fight on their hands to win the race for the 22-year-old.
As many as six other teams are allegedly keeping tabs on Lindstrom, including Manchester City, Roma, Juventus, AC Milan, Bayern Munich and Barcelona.
Arsenal captain Martin Odegaard is an undisputed starter in the number 10 position when fit, but Arteta sought to ease the burden on the 23-year-old by bringing in the versatile Fabio Vieira from Porto this summer.
The 22-year-old scored a stunning long-range goal on his full Premier League debut against Brentford at the weekend, filling in for the absent Odegaard after the Norway international picked up a calf injury in training.
As well as Vieira, Emile Smith Rowe provides a versatile option in the final third for Arteta, but the England international continues to be plagued by groin discomfort that disrupted the end of his 2021-22 season.
Arsenal’s 3-0 win at the Brentford Community Stadium saw them return to the top of the Premier League table before the international break, and their first game back on October 1 will be a North London derby with Tottenham Hotspur at the Emirates.
Arteta is understood to be optimistic about Odegaard’s availability for the derby, but Norway manager Stale Solbakken has conceded that the ex-Real Madrid man is “not doing well” at the moment.