By Dominic Toner

Arsenal are set to swoop for the current PFA Player of the Year Riyad Mahrez, according to a report.

The Premier League champions Leicester have already lost midfielder N’Golo Kante to Chelsea this summer and now look set to lose their creative midfielder.

Eurosport report that Riyad Mahrez is likely to join Arsenal for £42million and that the deal is set to happen ‘imminently’.

The Algerian international was the stand-out performer for Leicester in their title triumph last season with 17 league goals and 10 assists, while forming a highly productive partnership with Jamie Vardy.

He joined from Le Havre, who play in the French Ligue 2, midway through the 2013-14 season and helped Leicester earn a return to the Premier League.

The Evening Standard reported in February that Arsene Wenger praised Mahrez for his Premier Legaue performance and admitted he hadn’t heard of the £400k signing before his move.

Arsenal have already missed out on one Leicester star this summer, with Jamie Vardy opting to sign a new contract at the King Power Stadium, despite having a medical at the Emirates.

The Londoners finished second behind champions Leicester last season and, if they manage to capture Mahrez, could have enough firepower to secure a first league title since the 2003-04 season.

Mahrez would join an already creative line up alongside Copa America winner Alexis Sanchez and World Cup winner Mesut Ozil.

In other Arsenal transfer news, they have secured their third summer signing as England Under-21 international joins the club.