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Just 17, the left-back is a German youth international who came through the Hamburg youth ranks to be promoted to the first team last season.
Although he made just one appearance in the Bundesliga – coming on for just 20 minutes against Bayern Munich back in October in a match they lost 6-0 – big things are expected from this talented youngster.
In April, an insect bite, which then became infected, required a knee operation keeping him sidelined until May.
Vagnoman is under contract until 2019 so should not cost too much should Arsenal actually want to sign him. As well as being able to play at left-back, he can also play a role on the other flank or in the left-wing position.
Like Arsene Wenger, Unai Emery prefers players who are adaptable and can slot in to different positions on the pitch.
A salary of €6-7m-per-year for three years has been discussed, although Bild do not say which club is offering this salary which equates to approximately £100k-£117k-per-week.
Manchester City, Chelsea and Newcastle are also said to be interested in signing the teenager.