Borussia Dortmund have reportedly indicated that they are prepared to pay a loan fee in order to sign Arsenal forward Olivier Giroud.

Over the past 10 days, the Gunners have been strongly linked with Pierre-Emerick Aubameyang, with at least two bids said to have been rejected by Dortmund.

However, according to Bild, there is an acceptance that Aubameyang will leave before the end of the January transfer window and the German side are now looking to find a replacement.

Giroud is nearing a return to fitness after a month out through injury, but Dortmund are allegedly willing to pay £1.5m in order to secure his services for the remainder of the season.

The move could suit all parties, with Arsenal boss Arsene Wenger having barely used Giroud in the Premier League this season and the player becoming increasingly concerned over his lack of action since August.

Dortmund are reportedly still keen to receive a fee of around £60m for Aubameyang.