Arsenal remain interested in signing Alexandre Lacazette and will make an improved offer for the Lyon forward, according to Sky Sports.
The Frenchman is a confirmed target for the Gunners after president Jean-Michel Aulas revealed that an offer was made by the North Londoners.
Meanwhile, Lyon manager Bruno Genesio says his objective is to keep the player but also that the club might decide to sell if an important offer is made in the coming weeks.
"He can leave if Lyon want him to," Genesio told RTL.
"There are some offers that you cannot refuse.
"My desire as manager is that the best players stay and Lacazette is very important for the team. I have been assured by my president that we will keep the player.
"You never know what could happen right up until the 31st August."