Monaco have expressed late interest in bringing Olivier Giroud back to Ligue 1.
The Arsenal striker wants regular first-team football to boost his World Cup bid and is a target for Chelsea.
Giroud turned down being part of the Pierre-Emerick Aubameyang deal because he did not want to move his family to Dortmund.
Monaco want another striker after selling Guido Carrillo to Southampton for £19m.
L'Equipe claim that Giroud shook hands on personal terms with Chelsea on Monday, which was followed by the agreement of a fee of just over £15million for the signing.
However, Chelsea reportedly believed that Arsenal took too long in accepting the offer, meaning the Blues took the proposal off the table, leaving Giroud in the dark over his future.
The same report claims that Arsenal and Chelsea remain in renewed discussions over Giroud.
Giroud is said to want to remain in London, making Chelsea the preferable option.