The summer transfer window has now begun, with rumours and speculation continuing to swirl as Arsenal eye possible reinforcements.

The Gunners spent more than many expected last summer - most notably their club-record purchase of Nicolas Pepe - but were more reserved in January as they focused on bolstering their defensive options.

Here, Sports Mole rounds up the latest news on possible comings and goings at the Emirates Stadium.

Friday morning's Arsenal transfer talk news roundup:

Pierre-Emerick Aubameyang 'agrees new three-year Arsenal contract'

Pierre-Emerick Aubameyang has reportedly agreed a new three-year contract with Arsenal which will see him become the club's highest-paid player.

The Gabon international enjoyed an excellent 2019-20 campaign for the Gunners, finding the back of the net on 29 occasions in 44 appearances in all competitions.

The 31-year-old also scored in the Community Shield against Liverpool at the end of last month, but he has been linked with a move away from the Emirates Stadium this summer.

Aubameyang's existing deal with Mikel Arteta's side is due to expire next June, but according to The Athletic, the forward is on the brink of penning a new three-year contract.

The report claims that the deal will see the former Borussia Dortmund forward replace Mesut Ozil as the highest-paid player at the club, meaning that it could be worth in excess of £350,000 a week.

Aubameyang has scored 71 times in 110 appearances for Arsenal in all competitions.

Report: Arsenal lining up fresh bid for Lyon midfielder Houssem Aouar

Arsenal reportedly remain in talks with Houssem Aouar's agent and are preparing a fresh bid for the Lyon midfielder.

The Gunners are believed to have had an initial offer of £31.2m knocked back for the France international earlier this window.

However, Italian journalist Fabrizio Romano reports that Mikel Arteta remains desperate to sign the 22-year-old, who is thought to be valued at around £54m.

Arsenal are now readying an improved bid, it is claimed, but Lyon will not accept any sort of swap deal involving Matteo Guendouzi.

Arteta may first have to generate some funds if he is to land his top midfield target, with Emiliano Martinez, Rob Holding, Lucas Torreira, Hector Bellerin and Guendouzi each being linked with the exit.

The North London outfit begin their Premier League campaign this weekend with a trip to capital rivals Fulham.

More transfer news from Arsenal:

Ainsley Maitland-Niles 'still considering Arsenal exit'
England international Ainsley Maitland-Niles is still considering the possibility of leaving Arsenal this summer, according to a report. Read more.

Alexandre Lacazette 'to seek clarification over Arsenal future'
Alexandre Lacazette will hold talks with Arsenal head coach Mikel Arteta to determine where he fits into the Spaniard's plans, according to a report. Read more.

Arsenal chief denies agent-driven recruitment claims
There have been some claims that Kia Joorabchian is now exerting too much influence over Arsenal's transfer dealings. Read more.