Despite signing Henrikh Mkhitaryan from Manchester United, Arsenal are still looking to bolster their attacking options following the departure of Alexis Sanchez.
The transfer window will shut next week but Borussia Dortmund striker Pierre-Emerick Aubameyang remains top of Arsene Wenger's January wishlist.
The 28-year-old Gabonese international has scored 13 Bundesliga goals in 15 games this season and is reportedly pushing for a move to north London.
Aubameyang, who joined Dortmund from St. Etienne in 2013, has been left out of each of their last two league fixtures because of his attitude in training.
Arsenal have also been linked with West Brom defender Jonny Evans but the veteran French manager was asked by reporters about how close a deal is for Aubameyang.
"You never know how close you are," Wenger said in his Tuesday press conference. "This is the kind of thing - he is one of the possible movements, but we have other things in mind as well. We have plenty of opportunities and the final decision is not made.
"At the moment we are not close to any deal, Aubameyang or anybody else."
Journalists reveal the major stumbling block
Speaking on the Euro Leagues Football Show, well-respected journalists Rafa Honigstein and Julien Laurens discussed Arsenal's one major stumbling block in the deal for Aubameyang.
"Borussia Dortmund are saying the first offer from Arsenal only came in at €50m. They want at least €70m. Maybe they can meet at €60m," said Honigstein.
"The bigger stumbling block seems to have been the availability of Olivier Giroud on loan. Which the latest from Dortmund is that they think they might be able to do that, which then makes it easier for them to do the deal because it was always contingent on both these things - money plus a ready-made replacement.
"Giroud would only go on loan because Dortmund don't want to send half that money back to Arsenal straight again. So I think it is looking as if it's going to go through, and it is a really interesting move on so many levels."
Laurens added that the deal for Aubameyang could all boil down to Giroud's wife, who, according to Sam Allardyce, vetoed her husband's move to Everton because she didn't want to live in Liverpool.
"I think Giroud will do very well in Germany if he ends up there," Laurens chimed in.
"The only thing is, if it's true, because I don't know, I've never asked Jen, his wife, if she really didn't want him to move to Everton (in the summer) for example, because she didn't want to move away from London to go to Liverpool.
"I'm not sure how she's going to feel once she discovers Dortmund."
So the Bundesliga giants will only sell Aubameyang if they can bring in an immediate replacement - but if Giroud's wife doesn't fancy living in Dortmund the deal could be off the table.
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