Arsenal are set to make one more bid for Monaco’s Thomas Lemar, but they are already planning alternatives which is set to see them return for Leicester’s Riyad Mahrez.

The Gunners have made Lemar their number one target to bolster their wide options in recent weeks and have seen three offers rejected, with the last one being worth around £50million.

The 21-year-old is believed to be keen on a move to The Emirates, but Monaco are in little need to cash in having already sold the likes of Bernardo Silva, Benjamin Mendy and Tiemoue Bakayoko.

Indeed Monaco would ideally like to keep Lemar, along with Fabinho and Kylian Mbappe, two others who have been chased all summer by a number of clubs.

But Arsenal believe they could get Lemar but they may have to go to £55million to land the Frenchman.

Arsenal sources are confident of doing a deal, but they have also told me that they could go for Leicester’s wantaway Algerian Mahrez – who they have tracked for over 12-months.

Gunners boss Arsene Wenger is a fan of Maherz, who has been the subject of bids from Roma – and if Monaco persist in refusing to sell Lemar – they are ready to make a offer to Leicester for last year’s Player of the Year.

Leicester will sell for under £35million and in the end could cost £20million less than Lemar.

Bookmakers firmly believe that Lemar is heading for Arsenal this summer, and SkyBet make him odds-on at 4/7 to arrive this summer whilst he is 5/4 to remain with Monaco.

Mahrez is a closer call – with SkyBet putting Roma as favourites at 5/4, just ahead of Arsenal at 7/4. He is 3/1 to remain at Leicester.