The 'Reds' announced on Monday that Buvac would not be fulfilling his role for the rest of the season due to "personal reasons", but according to Pravda BL, the 56-year-old is very much in Arsenal's thinking, so much so that he features on the club's preliminary 14-man shortlist.
Buvac has worked alongside Jurgen Klopp for 17 years across spells at Mainz, Borussia dortmund and now Liverpool, with the German describing Buvac as "the brain" behind his coaching team.
The rumours of a switch quickly saw Buvac become the favourite to replace Wenger when his 22-year tenure comes to a close, with head of recruitment Sven Mislintat having previously worked with Buvac at Dortmund.
There is confusion with regard to Buvac's situation, with Liverpool insisting that he is on a period of leave, but the likes of 'Mirror Sport' reporting that he has actually resigned.
Were the latter to be the case it would make Arsenal's job easier, with Liverpool not being due any compensation.