Luiz Gustavo transfer rumors to Arsenal are wallowing with the Metro

In case you're like me and you love sleeping in on Saturday's where there isn't a 6:30am PT Bayern Munich match, then the noise from Britain this morning was a rather rude awakening. After clear statements of interest in Luiz Gustavo from the Bayern Munich chairman earlier in the week, today, several "sources" of various reput ranging from utter trash to less than utter trash have claimed that Luiz Gustavo is on his way to Arsenal as the subject of an approved £14M bid. According to the British publication, Metro (yes, the same one's with the asinine Xherdan Shaqiri rumor):

Arsenal are believed to have agreed a £14m deal to sign Bayern Munich's Luiz Gustavo.

...

If Arsenal can agree personal terms with the 26-year-old he will become Arsene Wenger's second signing of the summer, following the arrival of French youngster Yaya Sanogo.

Ok, first things first. Here's a barf bucket. I'll hold your hair back. That being accomplished, a £14M bid is way undervalue to what Luis Gustavo is worth and I'd expect Bayern to hold out for something a little higher.  That being said, the quotes paint this in a totally preliminary state if its true, so there's no need to hold onto your butts just yet. Luis Gustavo fills a need for Arsenal, the same way he fills a need for Chelsea or Wolfsburg, or probably a hundred other clubs across Europe, so this makes sense in that regard, and he'd be certain to get first team minutes.

Let's keep and eye on this rumor (and this source).

UPDATE:

On Sunday, BILD has picked up the torch and is now carrying forward with reports from The Sun that the bid is €21M, Given the widespread saturation this sto