Lyon president Jean-Michel Aulas has told Arsenal to make a much higher offer if they want to sign Houssem Aouar before the transfer window closes.

Reports in the French press have suggested that the Gunners had tabled a €40m (£36.5m) bid, with the London club having already reached an agreement in principle with the player, but Aulas dismissed those claims:

“At Lyon, there will be very few departures: for Houssem, Arsenal is much too far from his value: we count on him to make a big game in Lorient and lead OL in Champions League next year.”

Aouar’s asking price is believed to be €60m (£55m) so Arsenal may need to find another €20m (£18.5m) if they are going to snap up the France Under 21 international ahead of the transfer deadline.

Some of that money could well come from the departure of Lucas Torreira but, as things stand, negotiations over the Uruguayan international’s loan move to Atletico Madrid seem to have reached an impasse.

The La Liga side only want a purchase option but the Gunners are insisting that there must be an obligation to buy included in the deal.