Arsenal have had bids rejected for Alexander Lacazette and Thomas Lemar.
According to BBC reporter David Ornstein both Lyon and Monaco have rejected bids from the Gunners, but negotiations are ongoing.
Lacazette is suggested to be the more likely signing as it stands. The France international has been given the green light to leave Lyon after a move to Atletico Madrid broke down earlier in the window.
As for Lemar, Arsenal’s reported bid of £31m for the winger was turned down by Monaco. The 21 year-old is said to be keen on teaming up with compatriot Arsene Wenger, though Monaco are desperate to tie him to a new deal.
Ornstein claims that Arsenal’s transfer activity has hit stumbling blocks due to the unresolved futures of Alexis Sanchez and Mesut Ozil.
Neither player has shed light on their situation, despite Arsenal offering new deals for both. However, transfer targets are being pursued irrespective of the duos uncertainties.