Arsenal have made a £32m bid for Lyon midfielder Houssem Aouar, which has been dismissed as well below value by the club's president Jean-Michel Aulas.
Having already brought Dani Ceballos back in on loan from Real Madrid, another midfielder remains top of Mikel Arteta's wish list. Thomas Partey had initially been a primary target of the Gunners', but with the Atletico Madrid midfielder coming with a £45m release clause, the club have made Aouar their number one priority.
According to French news outlet RMC Sport, Arsenal have lodged a £32m bid for the midfielder. However, Aulas has taken to Twitter to insist the offer is below their valuation, and insisting the Aouar is part of Lyon's plans for next season.
"For Houssem Arsenal is too far from his value," the Lyon president wrote. We are counting on him to play a great match in Lorient [in Ligue 1 on Sunday] and lead OL in CL next year."
Lyon had initially been holding out for €60m for Aouar, but acknowledge that following the financial implications of the coronavirus, they may have to settle for a fee in the region of €40m to €45m.
The 22-year-old is said to be keen to join Arsenal, but the Gunners may have to sell first in order to raise funds for a more substantial second bid.
Arsenal have already sold Emiliano Martinez to Aston Villa in a £20m deal, and are expected to part ways with Lucas Torreira before the window closes - however this will likely be on loan, with Atletico Madrid currently closing in on a deal.
The Gunners may have a job on their hands to negotiate with Lyon over their valuation of Aouar, with Aulas recently telling newspaper Le Progrès that the club had no intention of selling Aouar, Moussa Dembélé and Memphis Depay at the same time - with all three linked with a move away from the club this summer.