Arsenal are said to be readying a new offer for Lyon playmaker Houssem Aouar.
Mikel Arteta has been linked with a move for the 22-year-old Frenchman for much of the transfer window as he seeks to add another midfielder to their squad.
RMC Sport have previously suggested that Arsenal had a £31.4 million bid, plus Matteo Guendouzi, rejected. Le10 Sport have followed that up by claiming that Arsenal will now put in a new offer closer to the asking price of £54 million.
Italian journalist Nicolo Shira believes that the player and club have already agreed personal terms, meaning that a deal could be swiftly concluded should the clubs reach an accord.
Arsenal have signed Willian, Gabriel, Alex Runarsson, Cedric Soares, Pablo Mari and Dani Ceballos (loan). William Saliba also returned from a season-long at St Etienne after agreeing a switch last summer.