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.

Sunday morning's Arsenal transfer talk news roundup:

Lyon to reduce Houssem Aouar asking price after rejecting Arsenal bid?

Lyon will consider lowering their asking price for Arsenal target Houssem Aouar, according to a report.

The French club's president Jean-Michel Aulas confirmed on Saturday that the Gunners have made an opening bid for the midfielder.

However, the amount offered by Arsenal fell substantially below Lyon's asking price, which is believed to be around £55m.

ESPN report that Les Gones could accept a smaller sum of around £40m later in the window, though, giving Arsenal hope of striking a deal if they hold their nerve.

Mikel Arteta's side are also believed to be keen on signing Thomas Partey, while Chelsea's Jorginho has recently emerged as another central-midfield alternative.

Lyon president Jean-Michel Aulas confirms Arsenal offer for Houssem Aouar

Lyon president Jean-Michel Aulas has revealed that Arsenal have made an offer for Houssem Aouar, but the bid is "too far" from the French club's valuation.

The Gunners continue to be strongly linked with the central midfielder, who has allegedly already agreed to move to the Emirates Stadium during this summer's transfer window.

A recent report claimed that Mikel Arteta's side had made a bid of between €35m (£32m) and €40m (£36.5m), but Italian journalist Fabrizio Romano claimed that the Ligue 1 club want €60m (£55m).

Taking to Twitter on Saturday morning, Aulas revealed that the London outfit had made an offer, which has been deemed "too far from his value".

Arsenal have also been strongly linked with Atletico Madrid's Thomas Partey but appear to be prioritising a move for Aouar at this stage of the transfer window.

Aulas also claimed that Les Gones are "counting" on the Frenchman to lead the club in the Champions League during the 2020-21 campaign.

More transfer news from Arsenal:

Arsenal to submit improved bid for Houssem Aouar?
Arsenal will submit an improved offer for Lyon midfielder Houssem Aouar after seeing their initial bid come up short, according to a report. Read more.

Torino pull out of Lucas Torreira pursuit
Torino sporting director Davide Vagnati claims that his side cannot afford to sign Arsenal midfielder Lucas Torreira, describing the Gunners' asking price as "too high". Read more.