Lyon are ready to slash their valuation for midfielder Houssem Aouar as Arsenal have their opening offer rejected.
Mikel Arteta has reportedly placed the 22-year-old at the top of his transfer wishlist, with the Gunners boss desperate to add attacking creativity.
It is understood Aouar is keen to make the switch to the Premier League, although Arsenal are yet to agree a fee with the Ligue 1 club.
According to ESPN, Arsenal have had a €35million bid rejected for the Frenchman, but do expect an improved offer to be on the way.
Lyon had initially slapped a €60m price tag on the France-U21 international, but the report suggests they could now be willing to accept substantially less than that.
Due to the financial impact of the coronavirus pandemic, it is suggested they will now accept between €40m and €45m
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New signings Willian and Gabriel Magalhaes both hit the ground running against Fulham but Mikel Arteta is still on the lookout for new signings. Lyon midfielder Houssem Aouar and Brentford keeper David Raya are two of the names on their radar.
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Arsenal’s technical director Edu has been in contact with his counterpart Juninho, with Matteo Guendouzi mooted as a potential makeweight.
Juninho confirmed the talks, saying: “I get on very well with Edu, we spoke on the phone. Aouar is really appreciated by Mikel Arteta.
“Guendouzi was discussed during the call, he is a great player, but he is the wrong profile. We are not interested in that at all, we cut the conversation.”
Arsenal are likely to need to sell before they buy, with a number of Arteta’s fringe players primed for permanent exits.
Lucas Torreira is said to be nearing a move to Atletico Madrid, while Sead Kolasinac, Shkodran Mustafi and Sokratis are all linked with a move away from the Emirates.
Ahead of Monday’s clash with Liverpool, Arteta refused to rule out further activity before the October 5 deadline.
“We are still open to improve our team,” Arteta said. “We are looking for different options depending on what happens with some of our players here so we are getting prepared just in case we need to do something.”