Arsenal have made Mykhaylo Mudryk their top target for the January transfer window (AFP via Getty)

Chelsea are in talks to sign Shakhtar Donetsk winger Mykhaylo Mudryk ahead of Arsenal, according to reports.

The Ukraine international is Arsenal’s top target for the January transfer window but the Gunners’ opening bid of £35.5 million, plus a further £17.7m in add-ons, has been rejected by Shakhtar.

Arsenal have followed it up with an improved offer but Shakhtar are understood to be holding out for a fee closer to £85m.

It’s also understood that Arsenal have already agreed personal terms with the 21-year-old, who will sign a five-year contract with Mikel Arteta’s side.

But according to The Sun, Chelsea are attempting to make a last-ditch bid to beat Arsenal and will hold discussions with Shakhtar’s sporting director, Darijo Srna, in London this week.

The report claims that Chelsea’s co-owner Todd Boehly is keen to add reinforcements to Graham Potter’s squad, though signing both Mudryk and Benfica midfielder Enzo Fernandez in the same window may not be financially possible.

Argentina’s World Cup winner Enzo Fernandez is closing in on a move to Chelsea (Getty)

Chelsea have been locked in talks with Benfica over a deal for Fernandez, who was a key part of Argentina’s World Cup-winning side last month.

Reports have claimed that Chelsea have agreed a £112m deal with Benfica for the midfielder, who has already agreed personal terms with the Premier League club.

Chelsea have also agreed a £34m fee with Monaco to sign their 21-year-old centre-back Benoit Badiashile this month.

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Meanwhile, Mudryk has dropped several hints on Instagram that he is keen on a move to Arsenal as he let supporters know he was watching the Gunners beat West Ham on Boxing Day.

The winger posted again during Arsenal’s 4-2 win over Brighton on Saturday as he took the opportunity to praise Mikel Arteta.

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Chelsea have made a last-ditch move.