Aubameyang wants to complete a move to Arsenal in the January transfer window, with the Gunners keen to bring in a replacement for Alexis Sanchez who is expected to join Manchester United.
Per John Cross at the Mirror, Aubameyang has agreed terms with Arsenal and the club now need to see if they can negotiate a deal with Dortmund.
Aubameyang has been prolific for the Bundesliga side since joining from Saint-Etienne in 2013. Tifo Football show how he has fared in front of goal for Dortmund this season:
Aubameyang could also potentially link up with Henrikh Mkhitaryan at Arsenal, with the duo having played together previously at Dortmund, before the Armenian moved to Manchester United.
Per Sky Sports News, Sanchez's move to United depends on Mkhitaryan moving the other way.
James Benge at the Evening Standard said that this transfer window could end up being a good one for Arsenal:
However, Arsenal may still find it tough doing business with Dortmund, as explained by Spanish football writer Andy West:
Yet there seems little doubt that Aubameyang would bring goals to Arsenal, and landing one of Europe's most impressive goalscorers would also help ease the pain of seeing Gunners talisman Sanchez depart.
Meanwhile, Arsenal could face a battle to keep hold of Nelson with the 18-year-old out of contract next year and attracting interest from Europe's top clubs, per Matt Barlow for MailOnline.
The club have "made very little progress" to try to extend his contract and could lose him in the same way they seem set to lose Sanchez.
Scouted Football showed how Nelson was a rare bright spot in Arsenal's FA Cup third-round defeat to Nottingham Forest:
Nelson is a skilful, pacy winger who is strong on the ball and has an eye for goal. He has managed to break into the Arsenal first team this season, making three appearances in the Premier League and six in the UEFA Europa League.
The teenager is one of the club's brightest young talents, and if there is real interest in his services they may need to move quickly to secure his future.