Olympique Lyon have informed interested clubs that Nabil Fekir will be sold this summer.
L'Equipe says OL have decided to put the France international up for sale - and are seeking to raise €60m.
Real Madrid coach Zinedine Zidane is a fan of Fekir, but will face competition from Arsenal, which had the midfielder scouted last week. The Gunners did business with OL last year for Alexandre Lacazette and are willing to try again for Fekir.
Arsenal's opening bid is expected to be for €50m for the attacker.
Fekir is tied to OL until 2020.