Arsenal are preparing to sell Alexandre Lacazette to Atletico Madrid.

The Daily Star says Lacazette is reportedly set to join Atletico Madrid this summer, should Arsenal captain Pierre-Emerick Aubameyang sign a new contract as expected.

Lacazette joined Arsenal in the summer of 2017 from Lyon, but has often been on the substitutes bench since manager Mikel Arteta's arrival at the club in December.

And should Aubameyang sign a new deal in the coming weeks, 29-year-old Lacazette could move to Spain and join up with Diego Simeone's side for £30million.

The report details that the French striker almost joined Atletico in 2017, before the Spanish side were hit with a transfer ban by FIFA.

Lacazette is also reportedly unhappy at Arteta focusing his predominant plans around Aubameyang, particularly with youngster strikers on the periphery of the first-team too.