Ligue 1 side Lille would be willing to negotiate a deal for in-demand winger Nicolas Pepe, providing a club bids at least €50 million.
According to L’Equipe, as cited by French football reporter Matt Spiro, Arsenal are leading the race to sign the Ivorian star.
A host of clubs have been linked with the player, including Manchester City and Bayern Munich as he continues to impress with Lille.
The French side have previously refused to sell during the January window, but interest has risen in recent months.
Arsenal have long been considered as favourites to sign him, with Unai Emery believed to be a fan.
The Gunners boss has talked up the chances of January signings after the shock defeat to Southampton over the weekend.
In 18 league starts, Pepe has found the back of the net 12 times, with Lille sitting second in Ligue 1.
The winger has played a key role in Lille’s push to secure Champions League football this season.