The Gunners are eager to recruit a new striker before next season, with Eddie Nketiah and Alexandre Lacazette set to be out of contract.
AS says Arsenal are interested in Espanyol hitman Raul de Tomas - but won't pay his £58million release clause.
Should they offload Pierre-Emerick Aubameyang, however, the Gunners may intensify negotiations for De Tomas.
They add that an agreement was reached between Aubameyang and Barcelona a number of days ago.
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