The Gunners face serious competition from Manchester City, as they have held a long-term interest in the former Southampton ace. Livramento joined the club in 2023 from the Saints in a £30m deal and the Magpies are likely to make a major profit on the ace.
He revealed in November, after a comeback from a long-term lay-off, that there have yet to be any negotiations over a new deal.
He said: “That's nothing that I'm in control of. I leave that to my dad, to my agent. For me, I've been out for seven weeks. I've been working really hard to come back and obviously help the team.
“I'm very happy with how I've played (against Man City). That's my focus, staying where I'm at now. That's always been my focus. Helping the team as much as I can.”
Eddie Howe praised him at the time, adding: “Tino, who had stayed with us (over the international break) and had done a lot of hard work.
“I thought, physically, he looked unbelievable today considering he had seven weeks out. A really high level performance against a really dangerous opponent.”
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