Arsenal are still contemplating a deal for Real Madrid striker Karim Benzema, according to a report in the Daily Mail.
The 28-year-old was linked with a switch to the Emirates last summer but manager Arsene Wenger will apparently reignite interest in his countryman if Madrid manage to secure the services of Pierre-Emerick Aubameyang or Robert Lewandowski from the Bundesliga.
Arsenal were also linked with Aubameyang in the mid-season transfer window but dropped out of the race after his asking price grew to £70m.
The newspaper claims that Wenger has ruled out a move for Paris Saint-Germain's departing striker Zlatan Ibrahimovic due to his age and wage demands, while a deal for Borussia Monchengladbach midfielder Granit Xhaka is said to be edging closer.
Both clubs are thought to have agreed a deal for the 23-year-old but are still haggling over the transfer fee, with the Gunners falling £10m short of Monchengladbach's valuation.