Alexandre Lacazette is in discussions with Lyon over a signing a pre-contract agreement which would see the Frenchman return to his former club, football.london understands.
Lacazette looks set to leave Arsenal this summer when his contract expires, after almost five years at the club.
The 30-year-old joined the Gunners from Lyon in 2017 and helped Arsenal win the FA Cup in 2020.
With less than five months remaining on his current deal, Lacazette is currently in discussions with several European teams, but it is Lyon who remain the frontrunners to land him in the summer.
Lyon president Jean-Michel Aulas recently spoke out following the ongoing link – confirming a transfer move will be made in the summer.
“We’ll do our best to sign Alexandre Lacazette in June,” began the Lyon representative.
“It’s Lacazette, he interests us because he marked this club. It’s a profile that interests us and we have always been in contact with him,” added OL director Vincent Ponsot.
Meanwhile, Eddie Nketiah is in talks with a number of clubs ahead of likely summer exit.
Arsenal blocked the England forward from leaving in January due to their lack of options upfront.
“The situation is that Eddie is our player, he’s under contract so he is going to stay here with us,” said Arteta last month.
Crystal Palace and Brighton are both interested in Nketiah, while Bayer Leverkusen have longstanding interest which could be followed up in the summer.
Folarin Balogun will return to Arsenal next season following his loan spell with Middlesbrough, but it is expected that the Gunners will sign a high profile forward in the summer transfer window.