Arsenal are vying with Monaco for the signature of Montpellier forward Elye Wahi, according to FootMercato.net.

The French website claims that the Gunners are “engaged in a merciless battle” with the Ligue One club to snap up the “exceptional striker”, who has scored 17 goals this season.

It is believed that Mikel Arteta’s side are currently the favourites for Wahi, as they are more likely to match Montpellier’s €35m (£30m) asking price. However, Monaco should not be ruled out of the race just yet.

The player is still only 20 years of age and Foot Mercato claim he may be more open to staying in France to continue his development, using Monaco as an “intermediate” step before progressing to a bigger team.

Arsenal are on the lookout for a replacement striker if Balogun leaves

Many fans may be asking why the Gunners are pursuing Wahi when the London club already have Folarin Balogun. The American has scored 21 times for Stade de Reims during a loan spell in France. He is only a year older than Wahi, as well as having a better scoring record in the same league this campaign.

However, Balogun has expressed a desire to leave the Emirates on a permanent basis. AC Milan and RB Leipzig are among the teams keen on securing his signature and he will likely fetch the same amount as Wahi would cost as well.