With Alexis Sanchez set to leave the club, Arsene Wenger has been trying to find a replacement for him.
Manchester United have now joined Manchester City in the race for the Chilen international. Wenger now wants to find a replacement for Sanchez this month.
Malcolm has attracted interest from United and Spurs but Wenger is leading the race after having talks with the player’s agent last week.
Bordeaux are thought to be reluctant to sell. In December, Bordeaux president Stephane Martin told L’Equipe: ‘He will not leave this winter. ‘What if we go an immediate loan deal back? I don’t see that being in the interests of the club to do that. We have not spoken about it and it is not something we are working on.
Arsenal should have money to play with, and they had already set up a meeting with Bordeaux to discuss a big-money move.
Bordeaux are said to be holding out £45m for the player but the club owns only 50% of his economic rights. The rest is held by other several agents. This makes the move a bit more complicated.