Arsenal are reportedly lining up a third bid for AS Monaco winger Thomas Lemar having seen their previous two offers turned down by the French outfit.

The Gunners failed with an initial approach of £30m before seeing their second bid of £40m also rejected, but they have not been put off by that and are willing to increase their offer to £45m.

The Daily Mail reports that Arsenal are ready to break their previous transfer record for a second time this summer, having already brought in Alexandre Lacazette from Lyon for £52.7m.

Monaco are unwilling to sell Lemar having already lost Bernardo Silva this summer, while there remains a high level of interest in the likes of Kylian Mbappe and Tiemoue Bakayoko.

However, Arsenal are optimistic of prising the winger away from the Ligue 1 club in a deal which could rise to £50m, taking their July spending to over £100m.

The Gunners had initially budgeted £100m to sign Mbappe, but with other clubs ahead of them in the race for the youngster they have now moved on to other targets.