According to journalist Ignazio Genuardi the Scottish champions are prepared to lower their asking price for Edouard after failing to agree a new contract with him.
The France international's current deal is set to expire in 2022, meaning Celtic have been trying to tie him down to an extension in recent weeks.
Arsenal are said to be eyeing up a move for the France international (Image: Action Images via Reuters)
However, after struggling to reach an agreement they are now said to be “gradually revising" their demands and would accept an offer of around £22million to £26million.
Reports linking Edouard with a move to Arsenal have resurfaced of late after the striker became a client of The Stellar Group - the agency which helped arrange Kieran Tierney's switch from Celtic to the Gunners.