Alexandre Lacazette is demanding a buyout clause in his new Lyon deal.
The Sun says the Arsenal target has been in scintillating form this season with six goals in three games to highlight why the Gunners were interested.
Le10 Sport claim the hot property will be offered a £100,000-a-week extension to his contract – which runs until 2019 – but wants an agreement that he will be sold for a fair price.
And after being priced out of a move this summer by Lyon, Arsene Wenger could return for an agreed price if Lacazette, 25, gets his way.
Both Arsenal and West Ham offered in the region of £40million for the Frenchman, who did not make his country's Euro 2016 squad.