Arsenal are said to have scouted the 22-year-old 'extensively' since January.
It is also claimed Barcelona and Atletico Madrid are keen on Boufal, with his agent Yvan Le Mee telling French outlet Le10 Sport he has held talks with the Catalan side.
He said: “We did have a meeting with the leadership of FC Barcelona in the last few weeks. There is an interest.
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“Now the reflection is whether Sofiane Boufal will go to Barcelona to compete with MSN (Lionel Messi, Luis Suarez and Neymar) or should he go to a club where he is going to start matches and express his exceptional talent.
“We have also initiated discussions with three other clubs that interest us, but they either have or will change their coach or the coach is in charge of a national team at the Euros.
“In England, there is interest, but the English market is just beginning. A transfer of 20 and 25 million euros is not resolved in two weeks, of course.”
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