The Gunners have been regularly linked with the 24-year-old over the past few weeks and it has been reported that the club have agreed personal terms.
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Ajansspor reveal that the London giants have now offered £17 million to sign the versatile full-back, but the proposal is way below the expectations of Fenerbahce.
Fenerbahce president Ali Koc has clarified that he wants more than £30m to part ways with Kadioglu, who played a starring role for Turkey against Georgia.
Arsenal remain interested in signing Kadioglu
Kadioglu started off his career as an attacking player. He operated from the number 10 and right-wing positions before establishing himself as a full-back.
The Turkey international has the ability to play with either foot. He is currently a mainstay in the starting XI for his club and country from the left-back role.
The 24-year-old has made a name for himself with his accurate distribution in the opposition half, but he has likewise made goal contributions with his creativity.
Kadioglu has also impressed defensively with an average of two tackles and six duels won with 6.7 ball recoveries. He has provided the right balance in attack and defence.
In our view, the Gunners could see him as a replacement for Oleksandr Zinchenko who got dropped to the bench earlier this year amid his inconsistent performances.
Arsenal are likely to make an improved offer for Kadioglu, but they will have to outbid Borussia Dortmund, who recently proposed to sign him for £21m.
If the club are willing to pay a fee closer to £30m, they should have the upper hand over Dortmund, who have a limited budget for the summer transfer window.
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