Kudus shone for Ajax last season, bagging 11 goals and three assists in 30 Eredivisie appearances.
He showed his versatility, lining up in central midfield, on the flanks and at centre-forward.
Kudu was also excellent in the Champions League and the 2022 World Cup.
His performances have attracted interest from the Premier League duo, with the Blues fancied to secure his services.
Ajax are open to selling the player, just as they were last summer when Everton came calling.
They will seek a fee of around £40 million for the Ghana international.
Arsenal have already spent most of their budget to sign Declan Rice, Jurrien Timber and Kai Havertz.
If they want to make more additions, they must sell players.
Chelsea have already trimmed their bloated squad. They still have several players to sell but have raised over £250m from sales.
The Blues are also trying to sign Brighton & Hove Albion’s Moises Caicedo. However, the Seagulls are refusing to make things easy.
They have requested Chelsea defender Levi Colwill, but they do not want to lose the England Under-21 international.
Chelsea are still negotiating and trying to clinch a deal for the Ecuadorean midfielder before moving for more offensive-minded players.
However, they may need to move quickly for Kudus, with Manchester United reportedly considering a move for him.
The 22-year-old previously played under Erik ten Hag at Ajax and may be tempted by the prospect of reuniting with his former manager.
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