Arsenal have reportedly launched a bid for PSV Eindhoven attacker Hirving Lozano according to SunSport.
The Mexican forward has been in superb form for his Dutch League side this campaign - scoring 11 goals and assisting six others in 17 topflight matches.
Gunners boss Unai Emery has however made the 23-year-old a major target as replacement for out-of-favour star Mesut Ozil.
According to SunSport quoting TMW, the north Londoners will have to cough out more than £35 million to sign him this month.
The publication also reveals that PSV might consider about £27 million with add-ons if clubs come knocking on their door in the summer.
Napoli were in pole position to land the star forward due to their relationship with the Dutch side and the player's agent Mino Raiola, giving them an edge in negotiations.
The German midfielder was said to have been offered to AC Milan but former Gunners chief Ivan Gazidis rejected the move.
Ozil is surplus to requirement in Emery's squad at the Emirates, and has even allegedly told Ozil that it would be best for him to leave the club.
Barcelona midfielder Denis Suarez is reportedly edging closer to joining the Gunners after "positive talks" held between the two clubs.
The Gunners were also thought to be interested in signing former Real Madrid star James Rodriguez on a cut-price £3 million loan move.
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