According to the BBC, Lyon striker Alexandre Lacazette is currently having a medical at Arsenal before becoming the clubs record transfer signing.
Arsenal had an initial bid for the 26-year-old France international rejected, However, talks had continued.
His fee is expected to be more than the £42.4m Arsenal paid Real Madrid for Mesut Ozil in 2013.
Lacazette scored 28 goals in Ligue 1 – the French top flight – last season, a tally bettered by only Paris St-Germain’s Edinson Cavani, with 35.
He has scored 129 goals in 275 matches in all competitions since breaking into the first team in the 2009-10 campaign.
Lacazette, who has won 11 caps for France, has been linked with several top clubs and looked set to join Atletico Madrid before their transfer ban was upheld by the Court of Arbitration for Sport.
Last week Gunners chief executive Ivan Gazidis promised fans “top-quality” summer signings during a question-and-answer session.
Left-back Sead Kolasinac, who joined from Schalke, is Arsenal’s only recruit since the end of last season.
See also
Antonio Conte: ‘This Arsenal star impressed me’
Arsenal players out on loan 2017 – list of all players out on loan 2016/17!
Arsenal close to sealing £10 million deal to sign Chelsea target
