The emergence of Gabriel Martinelli and Eddie Nketiah in North London may help ease an exit for Lacazette, but the two wide forwards – who are out of favour at Atleti – may help smooth a deal.
It follows on from reports last month that first emerged in L’Equipe that Atleti were willing to offer players in exchange to land the Gunners striker.
Lemar became Atleti’s club record signing – but has since been displaced by Joao Felix – when he joined the club from Monaco in the summer of 2018 in a €60m deal.
It has been reported that Atleti are operating at the maximum of their wage budget, meaning that they must sell before they can rejuvenate their squad.
Lemar, 24, is no longer a regular in Diego Simeone’s side and did not score nor register an assist this campaign – with multiple reports that he will be allowed to leave this summer to free up wages.
Vitolo joined Atleti from Sevilla in 2017 but never replicated the same form in the Spanish capital, and has made just 62 La Liga appearances spread over three seasons for the club.
In the summer of 2017, there was total agreement between Lacazette, Atletico and Olympique Lyonnais for the transfer but the deal never went through.
That was due to Atleti’s transfer ban at the time, which ensured that the striker instead moved to North London – where he has netted 48 goals in two and a half seasons since, spread across 127 appearances.
Back in January Marca reported on interest from Diego Simeone’s side in the France international, although no move materialised.
There are long-term doubts over Diego Costa’s future in the Spanish capital and Lacazette could be a replacement.