Arsenal are considering Atletico Madrid striker, Julian Alvarez as Gabriel Martinelli’s replacement.
The Gunners are still locked in negotiations over a deal to sell Martinelli to Al Hilal.
According to Sky Sports, the player himself is seriously considering joining the Saudi Arabian club if a deal can be agreed between the two clubs.
There is believed to have been progress in the last few days towards an agreement on the fee.
Arsenal are also expected to include a sell-on clause of up to 20 per cent of any future profit.
The Premier League champions are currently looking at potential new forward options themselves before the deadline, with Julian Alvarez still their top target.
Reports have linked them with Juventus forward Kenan Yildiz, but he has picked up a left-foot injury and could face a lengthy spell on the sidelines.