According to the latest reports, Italian outfit Roma are keen on signing the 29-year-old Switzerland international.
However, it appears that Manchester City, Liverpool, Juventus and PSG are also monitoring the situation of Arsenal star.
Xhaka has had a mixed time at Arsenal, and he will be hoping to make a fresh start this summer. He has already experienced Premier League football, and a move to Serie A is likely to be tempting for him.
A move to Roma would be ideal for him. Jose Mourinho prefers strong characters in his team and expects leadership from his players. Xhaka is a natural leader and could be an asset for the Italian club.
The Switzerland midfielder has been outstanding for his country in the European Championships the summer, and there is no doubt that he could prove to be a quality signing for Roma.
It will be interesting to see if Manchester City decide to come forward with an offer for the deep-lying playmaker in the coming weeks. They could certainly use more depth in the midfield, especially with Fernandinho in his twilight years.
Arsenal will not want to strengthen a Premier League rival, and City will probably have to pay way over the odds to secure his services.
A move to Roma seems more feasible for all parties, and it remains to be seen how the situation unfolds over the next few weeks.