Arsenal have told Lyon they are willing to pay £45m plus add-ons for striker Alexandre Lacazette, Sky sources understand.
Sources close to the France international are confident a deal can be done between the two clubs, despite Lyon president Jean-Michel Aulas declaring earlier week he expected Lacazette to remain at the club.
Lacazette has emerged as one of Arsene Wenger’s primary transfer targets this summer as Arsenal try to put last season’s failure to qualify for the Champions League behind them.
Last month, Lacazette said he would only move to a club who are playing in Europe’s premier club competition but it appears the 26-year-old’s stance on the matter has softened.
The free-scoring striker netted 37 times in 45 games last season and has two years left on his existing Lyon deal.
Lacazette had verbally agreed to join Atletico Madrid this summer but the move fell through after the Court of Arbitration for Sport confirmed three weeks ago that Atletico would be banned from registering players during this window.
Lacazette boasted the highest chance conversion rate in Europe’s top five leagues last season (38.9 per cent). His record of 28 league goals last term was more than the combined tally of Arsenal quartet Olivier Giroud, Theo Walcott, Danny Welbeck and Lucas Perez.