Houssem Aouar agreed a five-year contract with Arsenal earlier this month and is now waiting for the Gunners to finalise a deal with Lyon, according to a report.
Arsenal have reportedly already agreed terms with Houssem Aouar on a five-year deal and remain confident of finalising a transfer for the Lyon midfielder.
The 22-year-old is one of two midfielders believed to be on Mikel Arteta's radar, along with Atletico Madrid ace Thomas Partey, ahead of the October 5 deadline.
Lyon sporting director Juninho Pernambucano revealed earlier this week that no bids have yet been tabled, but that could soon be about to change.
Italian journalist Nicolo Schira suggests that while talks are ongoing between the two clubs, the France Under-21s international has made clear that he wants to move to the Emirates Stadium.
Aouar is said to have agreed terms with Arsenal as long as two weeks ago, leaving it down to the Gunners and Ligue 1 club Lyon to shake hands on a transfer fee.
Arteta has already strengthened his squad this summer with the arrivals of Gabriel, Willian and William Saliba.