Gunners boss Mikel Arteta wants to take Jesus to the Emirates Stadium in the ongoing transfer window and the Citizens are tipped to sell the striker for the right price, after bringing in Erling Haaland from Borussia Dortmund.
Arsenal failed with a bid of £35m plus add-ons in midweek, with Manchester City knocking it back.
Arsenal are still in talks with Manchester City over finding common ground and are expected to lodge a second bid for the Brazilian.
It is suggested that Manchester City are likely to be tempted to sell Jesus if Arsenal put a bid of £45m on the table.
All eyes will be on whether Arsenal can strike an agreement with Manchester City in the coming days as they aim to sign Jesus.
The 25-year-old has now entered the final year of his contract at Manchester City, having joined the club in 2017.
He found the back of the net 13 times in 41 outings across all competitions for Manchester City over the course of last season.
