The Gunners £90m bid was accepted in August but the move dramatically collapsed on the last day of the transfer window. Funded in part by the £60m sale of Alexis Sanchez, 28, to Manchester City, Arsenal are likely to receive considerably less for the Chilean if, as many expect, he is sold in the January window.
According to sources close to the player, Lemar is now keen to move to north London. Monaco crashed out of the Champions League in the group stage while Arsenal remain in the hunt for the top four of the Premier League, as well as the qualifying for the knockout stages of the Europa League.
It’s been a mixed season for Lemar. Injury brought his excellent start to the campaign to a juddering halt. During his absence last month, Monaco wobbled; beaten by PSG at home and Nantes, they began the month with a draw in Amiens.
Lemar returned in the 1 – 1 draw with Besiktas but the Monaco magic of last season has gone. That side has been gutted through the summer and Lemar is set to be the latest of that squad to depart.