Gunners boss Arsene Wenger has been looking to land the 20-year-old forward for some time.
But it now appears German giants Bayern are joining the chase for Draxler, who was close to moving to north London in the January transfer window.
Norwegian journalist Jan Aage Fjortoft, the former Premier League striker turned Bundesliga pundit, wrote on Twitter: ‘I understand Bayern will try to make a deal with Schalke where they pay part of fee now, but Draxler will come to Bayern [in] 2015.
‘I have been told that Arsenal felt they “lost” player when Bayern entered the stage. But I understand player hasn’t decided yet.’
Written by Steve Milne
