The Gunners are ready to offer €60m (£51m) for the young midfielder.
Arsenal are now making moves for the 19-year-old sensation Neves, who was added to their shortlist more recently.
Given that Benfica are receiving serious attention from one of England’s biggest teams, Neves’ future has become a critical concern for the them.
The player has a £102 million release clause, which Benfica is holding out for, but they know that any interested party may find their price unacceptable.
Neves possesses every quality needed to establish himself as the main midfield player for the Gunners.
At his age, he has demonstrated a great deal of maturity, and with additional experience, he should only grow better.
The Gunners are looking for a partner for Declan Rice in the midfield and they could be willing to let Thomas Partey leave the club.
Neves had a strong season that earned him a call-up to the European Championship, and his value has continued to grow.
Benfica has contemplated offering a new contract to Neves, raising his salary and release clause to €150 million (£127 million), in an attempt to ensure his long-term stay at the club. Negotiations have stagnated in spite of these attempts.
His current contract at the club runs until 2028 and it remains to be seen what the future holds for him.
Arsenal will have to increase their offer for Neves
An impressive showing in the Euro this summer might make it more difficult for Benfica to keep the midfielder at the club.
Arsenal have challenged Manchester City for the Premier League title for the past two season and Neves might see them as the club who are on the verge of getting success.
Mikel Arteta is keen to make reinforcements to his squad this summer in order to end Arsenal’s Premier League title drought and in his quest to do that, he might bring Neves to the Emirates Stadium.
