However, they would need to do that before Partey signs a new contract with Atleti. The midfielder is currently in negotiations with the club about an improved deal.
The renewal would include an increased salary for Partey and a higher release clause. So the Gunners would need to land the 26-year-old before then.
Yet Partey is keen to remain in Madrid, having spent his entire career with Atletico – minus two loan spells – and has played 175 games for them in all competitions.
“Atlético is my home, the club that gave everything, where I want to be,” the Ghana international said.
“My agent is talking to the club about the renewal. I hope everything goes well.”
Arsenal remain keen on signing Partey, though, and have told his representatives that if a new contract isn’t agreed they’re ready to pay his release clause.