The Dutch frontman is thought to be available this summer, despite scoring at least 16 goals in each of his last four season both in the Bundesliga and with AZ Alkmaar.
Weghorst is believed to be available for around £32m, with his contract not up until 2023.
And Arsenal and Newcastle are hot on the 6ft5 target man’s tail, according to German outlet Bild.
Both clubs are thought to be looking for a new striker this summer in order to bolster their attacks.
The future of current first choice pair Alexandre Lacazette and Pierre-Emerick Aubameyang remains unclear, with the latter still yet to extend his contract past the end of next season.
Arteta refused to give an update on the Gabon international’s current situation, as he continues to be linked with the likes of Barcelona and Chelsea.
Meanwhile, Newcastle are expected to get rid of £40m flop Joelinton who has scored just twice in the Premier League this season.
Despite signing a six-year deal, it’s likely that the Toon will make a loss on the Brazilian.
But with new multi-billionaire owners on the horizon, that shouldn’t be too much of a problem at St James’s Park.
Weghorst has previously admitted that he would like to play in the Premier League.
Six months ago, he said: "I always said that Germany and England have the best leagues."
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Gunners fans are not thought to be smitten over the idea of signing Weghorst as they think his style of play contradicts Arsenal's fluid passing style.
Others feel his goalscoring record speaks for itself though, and his more direct target man role could help the Gunners score more.