Arsenal officials have reportedly arrived in Germany for talks over a move for Pierre-Emerick Aubameyang.
Mirror Sport revealed the Gunners are set to make a club-record bid for the Borussia Dortmund striker.
Arsene Wenger was tight-lipped over a potential deal following his side's win over Crystal Palace, despite Dortmund claiming a bid had been made.
But BILD reports Arsenal chief executive Ivan Gazidis has flown into Germany with other club officials for talks.
The two clubs are set to hold a summit to discuss a deal for Aubameyang.
Arsenal are ready to go above the £52m they paid for Alexandre Lacazette last summer to get a deal done for Aubameyang.
Dortmund have asked about Olivier Giroud being part of the deal and Arsenal know he wants more regular football before the World Cup and is one of the highest earners at the Emirates.
But a straight cash deal is still being discussed with Arsenal boss Arsene Wenger privately convinced that the Aubameyang deal is very close.
After the win over Palace, he said: "We are nowhere near anything with Dortmund. They are responsible for their own statements. I cannot stand up for what they say."
It would be a huge coup for Arsenal after losing Alexis Sanchez in the Mkhitaryan switch with both players likely to be announced on Monday as they were undergoing medicals on Sunday.
Arsenal are in negotiations with Mesut Ozil about a new deal but are ready to head towards the £200,000-a-week barrier to sign both Mkhitaryan and Aubameyang.