Arsenal are closing in on a club record fee of £50m for Alexander Lacazette, according to Sky Sports.
The France international scored 37 times in 45 games for Lyon last season. Club president Jean-Michel Aulas recently claimed the striker would be remaining with the club after a move to Atletico Madrid fell through.
Arsenal will be hoping the striker can fire them into a title charge next season. The Gunners are set for Europa League football for the first time under Arsene Wenger and it is unclear whether the boss will utilise his fringe players for the competition, while focusing on the league.
A deal for the perennially Lacazette could be completed by next weekend, making the Frenchman’s the Gunners’ second signing this summer.
Arsenal have already recruited Sead Kolasinac on a free from Schalke. The Bosnian is set to replace Nacho Monreal as the first choice left-back.