Arsenal are ready to investigate allegations that Chelsea held secret transfer talks with Ashley Cole.
The club are to question the England defender, who has another two seasons to run on his Highbury contract, about the claims.
Chairman Peter Hill-Wood told The Sun: "The Premier League rules are very clear on this matter. If the club is presented with evidence that those rules have been contravened I am sure we will take the matter further."
It has been reported that 24-year-old full-back Cole and agent Pini Zahavi met Chelsea manager Jose Mourinho and chief executive Peter Kenyon in a London hotel on Thursday.
"These are very serious allegations and we will be investigating the matter as quickly as possible," said Hill-Wood.
"It has been reported in a very definite manner and that makes you think something untoward has gone on. We cannot let this pass."
Kenyon unfazed by prospect of probe
However, Kenyon has said he would have nothing to fear if Arsenal launched an investigation into allegations he had tapped Gunners defender Ashley Cole.
Asked if he was worried about the consequences if the Gunners choose to take the matter further - as Arsenal chairman Peter Hill-Wood has suggested they will - Kenyon told BBC Radio: "No, not at all."
The former Manchester United chief executive would not be drawn into commenting directly on Chelsea's interest or otherwise in Cole but indicated that his club would only recruit players by the rules.
He added: "There was supposed to be another secret meeting with another Premiership club about another Premiership player so it's where do you stop with these things.
"But the rules of the game are quite clear so we're just getting on with our business."