Arsenal are holding new contract talks with Alexandre Lacazette.
Arsenal are set to hold talks with Lacazette over his future in the coming weeks amid interest from Atletico Madrid.
Aubameyang's contract expires in 2021, while Lacazette has a deal until 2022.
Atletico Madrid are willing to use Thomas Lemar as a bargaining tool in order to land top target Lacazette.
At 28-years-old, Atletico boss Simeone believes that the France international would boost their attacking options.
Lacazette had a good start at the Emirates, netting 36 goals across his first two seasons in North London. But its been a stop-start campaign this time out for the former Lyon star, as he has struggled for form since an ankle injury in September.