Lyon midfielder Houssem Aouar may have played his last game for the club after he was sent off for a late tackle in their 2-1 defeat to Montpellier on Tuesday.
The French star enjoyed an impressive campaign for Lyon last season, leading to interest from Arsenal, Manchester City and Juventus.
Lyon have set a £50million price tag on Aouar to put off his suitors but the Gunners boss Mikel Arteta is a big admirer of the player and sporting director Edu has proposed a swap deal including Matteo Guendouzi.
That offer was quickly rejected by Lyon but Arsenal are expected to make a renewed attempt to sign Aouar before the transfer window closes.
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