Arsenal have reached a £60m agreement in principle with Borussia Dortmund to sign Pierre-Emerick Aubameyang, according to Sky sources.
Sky Sports News understands completion of the transfer is subject to Dortmund securing a replacement.
The Gunners had a bid in excess of £50m rejected last week, with Dortmund’s sporting director Michael Zorc stating they would only let the 28-year-old go if their demands were met.
Should he arrive at the Emirates before Wednesday’s deadline, Sky Sports News understands Arsenal will be willing to let Olivier Giroud leave the club, with Chelsea very interested in the France striker.
But one source told Sky Sports News on Sunday night that Giroud may yet be involved in the deal to bring Aubameyang to the Emirates by switching to Dortmund.
Widespread reports on Monday claimed Dortmund were considering a move for Michy Batshuayi, who has been told he can leave Chelsea on loan if they sign a new centre-forward.