Following their failed attempts to capture Pierre-Emerick Aubameyang and Jackson Martinez, the Gunners have now set their sights on Alexandre Lacazette, who could be available for as cheap as £21million.

The Lyon marksman stunned the footballing world finishing as the top scorer in Ligue One ahead of Zlatan Ibrahimovic and the likes, thereby drawing the attention of European giants.

Arsenal were initially touted to be one of the potential suitors, but the asking fee proved to be a hindrance.

According to reports, talks between the French outfit and his agent David Venditelli did not culminate in a fruitful way as they did not seem impressed with the demands of the player, who apparently seeks a staggering £4.5million-a-season contract to don the Lyon shirt.

"The offers we've had from abroad are very significant in terms of finances. Ultimatums and media pressure won't change our demands, which Olympique Lyonnais are aware of."

 Given the turmoil that surrounds the player, the Stade de Gerland club are ready to sell their talisman for a cut-price and Arsene Wenger is known to be a huge fan of bargain deals, but the Frenchman would look not to repeat his failed Andrey Arshavin experiment.

 The 24-year-old could be deemed an upgrade to his compatriot Olivier Giroud given the fact that he possesses the terrorizing pace, let alone lethal finishing that every Arsenal have been dreaming of in their centre-forward since the departure of Thierry Henry.