Arsenal are reportedly in talks to sign striker Pierre-Emerick Aubameyang from Borussia Dortmund and are "confident" of getting a deal done, while the Bundesliga club have shown an interest in taking Olivier Giroud in the opposite direction.
The Telegraph's Matt Law reported the potential sale of Alexis Sanchez could influence a move for Aubameyang, who was brought to Dortmund by Arsenal's new head of scouting, Sven Mislintat.
According to the report, the Black and Yellows were interested in pursuing Giroud last summer and could look to the France international as a direct replacement for Aubameyang if he leaves.
Dominic Fifield of the Guardian reported Arsenal are "increasingly confident" of getting Aubameyang in a deal that could set them back as much as €60 million (£53.3 million).
The Gabon international's arrival would go a long way to salving the blow of Sanchez's departure, and Bundesliga commentator Jan Aage Fjortoft noted a sense the stars were aligning over a deal:
The Independent's Jack Austin reported Aubameyang missed a team meeting last week, leading Dortmund general manager Michael Zorc to say the club "can't tolerate" his lacklustre behaviour anymore.
German football writer Lars Pollmann provided quotes on the matter from BVB head coach Peter Stoger, who failed to quell speculation the forward's place in the squad is uncertain at present, via German outlet DW Sports:
Giroud's potential move to the Westfalenstadion will undoubtedly help Arsenal if they do choose to chase Aubameyang, although, according to Fifield, manager Arsene Wenger is said to still require some convincing before completing a transfer.
The striker's disciplinary struggles in Germany are said to have worried the Arsenal manager, although Stoger has more recently suggested the player can restore his previous status in the group:
Despite growing rumours of a move away from the German giants, Aubameyang has found some success this season and scored 13 goals in 15 Bundesliga appearances.
Giroud, meanwhile, has scored seven goals in 25 appearances—only 10 of which were starts—and Pollmann indicated the Frenchman could make sense as a space-filler for Stoger's side:
Sanchez's move away from the Emirates Stadium looks likely to be the main catalyst behind any of Arsenal's own investment, and a move for Aubameyang could rely on the Chilean leaving the club first.