Arsenal manager Arsene Wenger and chief executive Ivan Gazidis have met Lyon president Jean-Michel Aulas to finalise the transfer of Alexandre Lacazette.
According to the Sun, the Gunners are determined to secure the services of the £50million striker, making him the club's second summer signing.
The 26-year-old was all set to join Atletico Madrid in Spain but the move collapsed due to the Spanish giants' transfer ban.
The player has recently suggested that he would be ready to join a club, like Arsenal, that will not feature in next season's Champions League.
"The Champions League is important but it is not a deal-breaker for my next club," he declared.
"The Premier League is interesting and I will look for a club where there are not too many players in my position, so I will not be benched."
