The 23-year-old defender moved to the Emirates Stadium last summer in an €18m deal and managed 23 appearances across all competitions with the Gunners in 2021-22.
Hickey could reunite with the Japan international at the Emirates Stadium, but Brentford are believed to be ahead in the race to sign the Scotland international. The Rossoblu sporting director Marco Di Vaio has admitted that the 20-year-old could leave for a suitable offer in the summer.
Svanberg, on the other hand, will surely walk out of the Stadio Dall’Ara as Bologna haven’t reached an agreement to extend his contract expiring in June 2023.
“His agent and we have different visions. The renewal seems impossible and we’ll try to sell him at the best conditions for us,” Di Vaio, a former Bologna and Parma striker, said on Tuesday.
Southampton have reportedly made an opening €10m bid to sign the Sweden international, but Bologna are negotiating a higher transfer fee for the 23-year-old, who has scored nine goals in 123 appearances with the Rossoblu.
Gaston Ramirez also joined the Saints from Bologna in a €13.5m deal in 2012-13. Likewise, Adam Masina swapped the Rossoblu with Watford in 2018-19.