The 26-year-old has built an impressive reputation since joining Lookman from RB Leipzig in the summer of 2022.
Lookman was particularly strong in the 2023-24 season, scoring 17 goals and providing 10 assists in 45 competitive appearances.
The Nigeria international netted a hat-trick in May's Europa League final against Bayer Leverkusen to guide Atalanta to their first European trophy.
Lookman has at least two years left to run on his contract, but that has not stopped him from being linked with a move away from Gian Piero Gasperini's side.
Arsenal given hope in Lookman purusit?
Arsenal receive boost in Lookman pursuit
A recent report claimed that Arsenal are among Lookman's potential suitors alongside reigning French champions Paris Saint-Germain.
There has been a suggestion that Lookman could turn down a move to North London in favour of joining Luis Enrique's side in France.
However, according to journalist Florian Plettenburg, PSG are finding it difficult to reach an agreement with Atalanta, giving Arsenal a boost in their quest to sign the attacker.
The update claims that negotiations are currently stalling, with PSG unwilling to meet Atalanta's financial demands.
As a result, it seems unlikely that PSG will be able to strike a deal before the summer transfer window closes on Friday.
Gunners keeping tabs on Lookman
While PSG remains Lookman's first choice, he may have to consider alternative options if he wants to leave Atalanta during the current transfer window.
The Gunners are said to be among a number of top clubs who are monitoring Lookman's situation and any potential opportunity to sign the forward before the transfer deadline.
Arsenal are on the verge of making their third permanent addition of the summer, with Real Sociedad's Mikel Merino set to join after completing his medical.
Once they have confirmed Merino's signing, Arsenal may turn their focus to bolstering their forward options, especially with Eddie Nketiah set to depart and Gabriel Jesus continuing to struggle with injury issues.
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