Arsenal are close to signing Victor Gyokeres from Sporting, the Swedish international is their main target, so i don't believe any rumors linking Watkins to Arsenal, they might only be interested if the move for Gyokeres falls through, and it likely could, because the president of Sporting is a stumbling block to the deal.
Yeah I have heard that they made big progress with the player. Gyökeres can't wait to leave Sporting to join them.
He has already burned the bridges and isn't going to play for Sporting anymore...Manchester United has also been interested but he didn't want them over Arsenal. Wise choice considering Champions League football honestly. And who knows, he could be the missing piece of the puzzle for Arsenal.