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Goetze has played an integral role in Dortmund’s re-emergence in European football, enjoying an outstanding campaign last year in the Bundesliga and continuing to impress in this season's Champions League.
The 19-year old is key to Dortmund’s success and accordingly they would be loath to lose their most prized asset, but would probably listen to bids in excess of £20 million for the Germany international.
Arsenal chief scout Steve Rowley has been sent on numerous trips to check out the midfielder and has returned with glowing recommendations. Wenger could therefore be prepared to smash the Gunners' current transfer record, which was set when they paid £15m to Zenit St. Petersburg for Andrey Arshavin in 2009.
Goetze has already racked up 10 appearances for the national side and is thought to be attracting the attention of some of Europe’s biggest clubs, with Real Madrid previously being linked with a move, meaning Arsenal will face a battle to convince the player that his future lies at the Emirates.
The Daily Mail reports that Wenger has been handed a war-chest of £50m and will test Dortmund’s resolve with a big bid in the January transfer window.