Arsene Wenger's time at the Emirates Stadium will come to an end after today's clash with Huddersfield, but the search for his successor has been gathering pace since it was revealed he would be leaving.
A host of top names have been linked with some reports claiming that Paris Saint-Germain boss Unai Emery is the new favourite, but Allegri's name has always been in the frame following his success at Juve.
The Italian side are on course for their fourth straight Serie A title, while Allegri also has a good record of taking them to the latter stages of the Champions League and would be the perfect fit for the Gunners.
It has also been suggested that Allegri would be keen on taking the Arsenal job as long as he is handed the funds to strengthen his side with the five new players he believes are needed to turn them into a force again.
The 50-year-old is said to be concerned with the lack of quality strength in depth in the current squad that has again failed to make the top four this season, and needs more than the three players Wenger has suggested would be sufficient.