Alexandre Lacazette is set to join Arsenal in the coming days for around £44million, according to Lyon president Jean-Michel Aulas.
The France striker has been linked with a move to the Gunners for much of this summer as they seek to lift themselves into Premier League title contention.
The outspoken Aulas has previously insisted Lacazette is going nowhere this summer.
But, quoted in Le Progres on Sunday, he said: “The transfer of Alexandre Lacazette to Arsenal could be completed in a day or two.
“The 67million (euros, £58.75m) announced by sources in England is an unrealistic sum. Arsenal’s first offer was 45million and the transfer will be done for a fee of between 45 and 50million (£39.5m-44m).
“Being close to 50million is something unique and would undoubtedly be a record for Arsenal, and also for Lyon of course.”
Lacazette scored 37 goals in all competitions for Lyon last season, including 28 in 30 Ligue 1 games.