Arsenal have launched a swap bid for Inter Milan striker Lautaro Martinez.

The Sun says Arsenal have reportedly offered Hector Bellerin and Alexandre Lacazette plus cash in exchange for Martinez.

But the Italian giants are not thought to be interested in a player-plus-cash deal and want an offer in excess of £65million.

The Gunners have also had a setback in their pursuit of James Maddison, with Leicester reportedly rejecting their opening offer.

The bid is thought to have included Reiss Nelson, Ainsley Maitland-Niles and cash but the Foxes want around £70m for the player.