Arsenal are in the market for a new centre-back having reluctantly allowed captain Laurent Koscielny to jump ship for Bordeaux.
It seems they have already found their man in Rugani, with Serie A transfer expert Alfredo Pedulla breaking news of an agreement.
Pedulla claims Arsenal have agreed to pay the 24-year-old more than £3.7m (€4m) a season, with further talks with Juventus planned.
The Gunners are said to be looking to bring in Rugani on a two-year loan, at the end of which they would be obligated to pay £37m (€40m) for him.
Arsenal have left Manchester United and Wolves trailing in their wake as they attempt to build on the signings of Dani Ceballos, Nicolas Pepe, Gabriel Martinelli and William Saliba.
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The Red Devils are reported to have made an enquiry for Rugani during the summer transfer window.
Wolves, meanwhile, continue to eye up the former Empoli man following their earlier defensive capture of Jesus Vallejo from Real Madrid.
Arsenal’s desire to get a loan deal in place comes after they splashed out a club-record £72m on Pepe.
That transfer, despite only £20m of the fee being paid up front, has depleted their kitty.
And they now face the prospect of having to wait until January before bringing in their No 1 left-back target, Kieran Tierney.
Celtic have played hard-ball regarding the Scotland international, who they value at more than £25m.
Rugani could slot straight into Arsenal’s back four against Newcastle on Sunday if his move is tied up before Thursday’s 5pm deadline.
Unai Emery has insisted he will only move for a defender who represents an upgrade on his current options.
“But it has not changed, our idea and our message,” Emery said after Sunday’s 2-1 friendly defeat to Barcelona.
“Only if we can sign a player who really, really can improve our squad, then we are going to do that. If not, then not.
“We have good competitive players to achieve or try to achieve our target this season and we are going to be looking at something if we can sign someone, but with this idea. Only, and only, if we can improve.”