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The 21-year-old is the Gunners’ top transfer target this summer and Arsene Wenger is still hopeful that an agreement can be reached with his former club to bring the Frenchman to north London before the window closes at the end of this month.
Monaco have already rejected three Arsenal bids for Lemar this summer – the most recent of which is believed to be worth £45m.
And the Daily Mail report that they will now return with a fourth attempt to sign the French international.
But potential suitors are being scared off by the players’ high wage demands as well as the club’s high asking prices.
With Wenger hopeful of completing a deal for Lemar this month, he may decide to accept a lower fee for some of the outgoing players in order to free up room on the wage bill as well as adding to his overall war chest.