The Gunners boss is said to be a keen admirer of the French starlet, who impressed last season after Lyon reached the semifinals of the UEFA Champions League.
The Ligue 1 club are asking £54million for Aouar, which seems far from what Arsenal had offered in the past.
The North London outfit have previously seen a player plus cash deal for the 22-year-old rejected. But according to French outlet Telefoot Chaine, Arsenal are soon to make a fresh offer of over €40million (£36m) for former French under-21 international.
Aouar would instantly improve the Gunner’s creativity going forward, the Frenchman played a huge role in Lyon’s Champions League campaign last season by scoring nine goals to take them all the way to the semi-finals, he also provided a further 10 assists in all competitions.
Arsenal continue to improve squad.
Mikel Arteta is still looking to finalise his team for the new season as his squad rebuild nears completion. There have been two new arrivals in north London during this transfer window so far, as well as retaining the services of some familiar faces. Arsenal look to make Aouar their third major signing and hope their improved bid will be enough to strike a deal for the Frenchman.
The club have finally addressed their desperate need for a defensive reshuffle, after bringing in two new centre backs in the form of former Lille defender Gabriel Magalhaes as well as William Saliba returning from his loan spell at Saint-Ettienne.
Arsenal are looking to bolster their attack this season after agreeing a second loan spell for Dani Ceballos, also acquiring Chelsea forward Willian and finally announcing that Pierre-Emerick Aubameyang has signed a three-year extension in what is seen as the most important deal for the club.
Out with the old and in with the new…
It seems the Gunners are prepared to offload three first team players in order to raise funds for the Ligue1 midfielder, that is according to Sky Sports reporter Dharmesh Sheth on the Transfer Show.
Sheth reported that the likes of Lucas Torreira, Sokratis Papastathopoulos and Sead Kolasinac could all be well on their way out of North London soon. With a deal all but agreed with Torino for Torreira and strong interest for Sokratis and Kolasinac from both Napoli and West Ham, respectively.
"Now look, if Arsenal can release Torreira, Sokratis and Kolasinac, then they would not only bring in funds to help out Mikel Arteta in the transfer market, but then they would have 15 non-homegrown players over the age of 21 on their books.
"Now the maximum you can have in a squad is 17. That would make it easier to bring in the likes of the Icelandic keeper Runarsson and perhaps another overseas signing.”
With just over two weeks to go until the transfer window closes on October 5, Arsenal will hope that Lyon are prepared to sell one of the best young talents French football has to offer as the Ligue 1 outfit look to raise funds of their own.