Norgaard, 31, was signed to add some experience to Arsenal’s midfielder, but has so far featured for just 31 minutes across his three Premier League games.
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According to De Telegraaf, Ajax are looking to sign a new defensive midfielder to help steady their so far chaotic season.
It’s understood that Norgaard is one of the main names on their shortlist, and Ajax are seriously investigating the possibility of signing the Denmark international.
Alongside the Arsenal man, Liverpool’s Wataru Endo and Man United’s Manuel Ugarte are also named as serious candidates.