The latest we heard on any move was back in March when reports suggested that Arsenal had made an approach to sign Watkins, a player reportedly valued around the £75m mark.
So, he could cost the same amount as Gyokeres this summer, but they'd be getting a Premier League-proven player who is in the best form of his life.
Speaking on Monday Night Football last season, presenter Dave Jones suggested that he was delivering "Thierry Henry style numbers".
Why did he say that? Well, the Villa star was as good in front of goal as he was creatively.
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Via Sky Sports Monday Night Football.
Last season, Watkins ended up finishing with 19 goals and 13 assists in the league. It's not quite Henry levels but the sheer rate he was scoring and creating with was supremely impressive.
As a result, he walked away with the Playmaker Award for the most assists in the English top flight, not bad indeed for someone whose main job is to actually score the goals.
Of course, that ability to find the net with such regularity would no doubt pique the interest of Arteta but he likes his players to be able to offer more than just one skill.
Watkins' ability to feed others and act selflessly for the team is a huge plus point and someone who would certainly play into the hands of players like Bukayo Saka and even Havertz.
Indeed, it would not be unreasonable to think that the German could actually play up front with the Villa star, such are their traits.
Ollie Watkins for Aston Villa
Gyokeres may well have registered nine league assists himself last season but it would be a risk given the quality of the opponent he was facing.
That's no disrespect to the top-flight in Portugal but Watkins has already proven he can run riot against Premier League defences.
A move, of course, is difficult to see happening but wouldn't it be an exceptional capture? A boyhood Gunner leading the line for Arsenal certainly sounds nice.
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