Arsenal reportedly have "up to £70m" to spend on Crystal Palace attacker Wilfried Zaha this summer, despite suggestions that the Gunners could only go to £45m for the Ivory Coast international.

Unai Emery's side are already said to have had a £40m offer for Zaha knocked back by the Eagles.

Arsenal are expected to return with a fresh bid for the 26-year-old, although it had been thought that the London club would not be able to get close to his £100m valuation.

However, according to Sky Sports News reporter Kaveh Solhekol, the Gunners could land Zaha in a £70m deal as their transfer budget is larger than the figure that has been widely reported.

"What I have been told is that it suits Arsenal that people think they only have £45m, because when they get into negotiations over a player, the selling club is going to think Arsenal don't have much money," said Solhekol.

"What I have been told is that this is a bit of a smokescreen and Arsenal can go up to £70m to buy Wilfried Zaha. £70m is the point at which they would walk away. A deal that would be worth £70m in total.

"We just have to take it with a pinch of salt that Arsenal only have £45m. They are one of the biggest clubs in the world. We are not talking about £300m for Neymar, this is £70m in total. I think Arsenal can do that."

Zaha, who admitted earlier this year that he wanted to leave Selhurst Park in search of pastures new, scored 10 times and registered 10 assists in 34 Premier League appearances last term.