Arsenal have reportedly decided to make Borussia Dortmund an offer for Pierre-Emerick Aubameyang which would exceed the club-record £52m paid for Alexandre Lacazette.

The 28-year-old striker is wanted by the Gunners as a replacement for Alexis Sanchez, who is on the brink of completing a switch to Manchester United.

Dortmund sporting director Michael Zorc is believed to be in London this weekend to negotiate the terms of the transfer but reports suggested that an initial £40m offer had been turned down.

According to The Mirror, Arsenal are now prepared to go above the fee paid to Lyon for Lacazette last summer in order to get a deal done for Aubameyang.

The report also suggests that Dortmund are hopeful of Olivier Giroud being included in the deal, but the Gunners are believed to favour a cash-for-player exchange.

The Gabon international has twice been left out of the Dortmund side for disciplinary reasons this season and did not return to the squad as anticipated for Friday's 1-1 draw at Hertha Berlin.