Arsenal and Paris Saint-Germain are firmly in the race to sign Lyon striker Moussa Dembele, according to a report.

The 23-year-old has been linked with a host of clubs on the back of a campaign that saw him register 22 goals and seven assists in 42 appearances.

Manchester United and Chelsea are believed to be among those weighing up a move for Dembele, while Foot Mercato suggests that Arsenal and PSG are also keen on striking a deal.

That could set up a bidding war for the former Fulham and Celtic hotshot, who still has another three years to run on his existing deal with Lyon.

Arsenal are said to have targeted Dembele as a replacement for Alexandre Lacazette or Pierre-Emerick Aubameyang should one of them leave in the coming weeks.

PSG, meanwhile, are looking to fill the void left by club-record scorer Edinson Cavani ahead of his departure this summer.

Speaking last month, Lyon president Jean-Michel Aulas conceded that it will be difficult to keep hold of Dembele if big clubs come calling.