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Aubameyang was left out of the Borussia Dortmund side to face Wolfsburg this afternoon due to disciplinary problems.
The 28-year-old missed a game earlier in the season due to ill-discipline and in 2016, he was dropped for an unauthorised trip to Milan.
Aubameyang has had an outstanding season with 21 goals in 23 games this season and is the second top scorer in the Bundesliga this season, behind Bayern Munich’s Robert Lewandowski.
But it appears the Gabon star is on his way to the Premier League and beleaguered Arsenal.
Balague wrote on Twitter: “Alexis Sanchez not fully agreed yet. United favourites and next 2-3 days key (nobody takes City out of equation yet).
“Meanwhile Arsenal want to close soon deal for Aubameyang, left out of squad today, for €60m.”
A deal for Aubameyang suggests Alexis Sanchez’s exit could be imminent.
Sanchez was left out of the Arsenal squad which lost 2-1 to Bournemouth earlier today and after the match Arsene Wenger confirmed they would sign a replacement for the Chilean.
He said: “Look, if Alexis goes we need to replace him.
“When you look today we missed many players in our squad and you see that we have a weight in the team, and if players like Alexis go, we have of course to respond to it.
“Will he go or not? I do not know, but at the moment it’s the transfer period and in this kind of period you try to use the players that are completely focused at being at the club.”