Arsenal are reportedly still hopeful of signing Houssem Aouar this summer, despite Lyon placing a €60m (£53.5m) price tag on his head.

The 22-year-old is wanted by a number of Europe's top clubs after helping Lyon to the semi-finals of the Champions League, with Manchester City and Juventus also linked with the midfielder.

Arsenal were thought to be leading the race for his signature, but saw a player-plus-cash bid including Matteo Guendouzi turned down earlier this month.

However, Foot Mercato claims that the Gunners have not given up hope of signing Aouar despite Lyon demanding more than £53m for his services.

Lyon sporting director Juninho recently admitted that Aouar could leave the club this summer amid interest from "bigger teams".

Aouar scored nine goals and created 10 more in 41 appearances for Lyon last season.