The French newspaper report that The Gunners are prepared to pay up to £49m for the France international, with Lyon likely to accept such a bid.
The striker was on the verge of joining Atlético Madrid, after reportedly even agreeing terms with the Spanish giants.
However, their transferban upheld, which ended the possibility of a move. He's now set to move to the Premier League, as Arsenal coach Arsene Wenger is said to be a big fan of him.
As reported by Telegraph, Wenger would like Lacazette, Mbappe and his Monaco team-mate Thomas Lemar as he rebuilds his team.
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