Arsenal are reportedly considering a 'late offer' for Leicester City midfielder Youri Tielemans as an alternative to Brighton and Hove Albion's Moises Caicedo.

The Lowdown: Third Caicedo bid 'expected'

Transfer expert Graeme Bailey has reported that Arsenal are 'expected' to make a third offer for Caicedo, after having a second offer worth up to £70m rejected by Brighton for him.

However, should the Gunners fail in their pursuit of the Ecuador international, they will have to find alternative targets quickly with tomorrow being Transfer Deadline Day, as central midfield is clearly a position where they would like to strengthen.

The Latest: Tielemans considered by Arsenal

Taking to Twitter, Bailey has also reported that Mikel Arteta's side are considering a 'late offer' for Tielemans, but Leicester City would prefer him to leave in the summer.

He outlined: "Arsenal consider late offer for Youri Tielemans - however, Leicester's relegation battle means they won't/can't consider letting him leave this month. The Belgian will leave Leicester in the summer when his contract expires."

Expanding in his corresponding article for 90min, Bailey adds that Tielemans has 'turned down' all offers of a renewal at Leicester, so he can leave for free at the end of the season.

Arsenal are thought to be 'long-term admirers' of the Belgian, and he is 'open' to a late move, although it would take a 'huge' bid to sign him.

The Verdict: Hold out for Caicedo

The Gunners must hold out for Caicedo before making any late move for Tielemans. The former is a more natural defensive midfielder than the 25-year-old, who mainly operates further forward in the middle of the park.

Arsenal are looking for a defensive midfielder to cover for the injured Mohamed Elneny, as well as the injury-prone Thomas Partey, so Caicedo would be a better fit.

Lauded as an 'outstanding player' by his manager Brendan Rodgers, that is not to say that Tielemans wouldn't be a good signing, but the Gunners are better off waiting for him to become a free agent in the summer before capturing him, instead putting all of their efforts into trying to sign Caicedo before tomorrow night's deadline.