The Gunners are planning a summer rebuild, and they are prepared to offload a number of first-team stars.
According to 90min, the club are back in the race to sign Zakaria, who has less than 14 months left on his Gladbach contract.
Zakaria is valued at around £29m, but the Gunners plan to reduce the price tag by offering Xhaka in a part-exchange deal.
Xhaka is reportedly open to returning to the Bundesliga, having come close to joining Hertha Berlin in January last year.
Xhaka previously played for Gladbach for four seasons between 2012 and 2016, and he continues to be highly valued by them.
Aside from Zakaria, the Gunners have also been linked with a move for Brighton & Hove Albion midfielder Yves Bissouma.
The Mali international is valued at around £30m, and it is claimed that the Gunners could prioritise a move for Zakaria instead.
Content created and supplied by: TalkSport10 (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More