With less than 12 months remaining on the Belgian's contract, it has been widely expected that he would join a new club before the end of the summer transfer window.
However, Leicester have allegedly not received any formal bids for the 25-year-old's signature, even from the Gunners who are long-term admirers.
According to talkSPORT, Tielemans does not necessarily possess the presence that Mikel Arteta would prefer in the centre of the pitch.
Leicester boss Brendan Rodgers is said to be keen to hold discussions with one of his key players in order to determine whether he will remain in the East Midlands for 2022-23.
With Alvaro Morata having returned to Atletico Madrid, Juventus are in the market for a new forward ahead of trying to challenge for the Serie A title.
On Tuesday, it was widely claimed that Chelsea's Timo Werner was on their shortlist of possibilities with the German open to a transfer away from Stamford Bridge.
However, according to reports in Spain, Juventus are also prepared to join the race to sign Memphis Depay, rivalling the likes of Manchester United.
The Netherlands international has been made available by Barcelona with the Catalan giants having already signed the likes of Raphinha and Robert Lewandowski.
The report suggests that the 28-year-old would prefer to remain on the continent rather than return to the Premier League, where he has already represented United.
Staying on the topic of forwards who may be on the move, Paris Saint-Germain are still deliberating over whether to part ways with Arnaud Kalimuendo.
New head coach Christophe Galtier has already stated that he would be happy to retain the services of the 20-year-old, while also acknowledging that it may be dependent on any bids for his signature.
According to L'Equipe, Rennes are the latest club to enter the race for the youngster, joining the likes of Leeds United and Nice.
The report claims that Rennes have already held discussions regarding a potential deal with Kalimuendo valued in the region of £17m.
Kalimuendo netted 12 times in Ligue 1 during a loan period with Lens during the last campaign.
Meanwhile, Rangers are reportedly keen to reduce their wage bill with the exits of four of the fringe players.
According to The Athletic, Nikola Katic, Jack Simpson, Stephen Kelly and Glenn Middleton have all been made available for transfer.
Katic, the most high-profile of that quartet, spent last season out on loan at Hadjuk Split, while former Bournemouth defender Simpson has only played one league game under Giovanni van Bronckhorst, that outing coming during the final-day dead-rubber at Hearts.
Kelly made 21 appearances in League One for Salford City during the second half of 2021-22, while Middleton represented St Johnstone throughout the most recent campaign.