Arsenal boss Arsene Wenger has reportedly already lined up Lyon striker Alexandre Lacazette as a replacement for Alexis Sanchez should the Chilean depart in the summer.
The Gunners fear losing their star attacking talent at the end of the season after failing to agree fresh terms on his current deal, which will soon enter its final year.
According to The Mirror, Wenger is resigned to losing Sanchez following the contract stalemate and has turned his attention to Lacazette, who revealed in December that he will weigh up any options to depart the French club later this campaign.
Lyon president Jean-Michel Aulas also insisted last month that he does not intend to stand in the way if a big-money bid is made for the 25-year-old.
It is understood that Arsenal will table an offer of £60m for Lacazette, nearly double the sum they saw turned down for the Frenchman last summer, but Liverpool could also join the race to lure him to the Premier League.
Lacazette has 22 goals in 22 Ligue 1 appearances for Lyon this season, putting him behind only Paris Saint-Germain's Edinson Cavani in the scoring charts, while also finding the net three times in Les Gones' European campaign.
