Lyon have slapped a mammoth price tag on Alexandre Lacazette, according to reports.

Arsenal had a £29.2million bid for the prolific striker rebuffed last month and could yet return with an improved bid.

But The Telegraph claim Lyon are set to try and ward off interest in their star man with the offer of a lucrative new long-term contract.

And the French outfit will also reportedly inform Lacazette’s representatives that their valuation of the player has risen from around £42m to a staggering £60m.

It all seems to be going wrong in the transfer market for Arsenal.

Last week also there was a possibility that Arsenal will have to end their pursuit of Alexandre Lacazette because the 25-year-old sustained a hip injury during their 4-1 defeat to PSG in the Trophee des Champions.

Lacazette has netted 92 goals in 230 appearances for Lyon since his debut for the Ligue 1 side back in 2010 but the 25-year-old was being heavily linked with a move to Arsenal.

This left Arsene Wenger with no other choice but to go all out for his next priority target Riyad Mahrez but to land the Leicester City star would be very difficult for Arsenal as the Foxes’ owner recently insisted he is not for sale, also latest reports claim the Algerian has decided not to leave Leicester this summer.

Lacazette has been inconsistent at times for Lyon, but an explosive end to the season has seen him confirm his status as a top striker.

The physicality of the Premier League wouldn’t be an issue for the Frenchman. But there are a few weaknesses to his game, including his consistency as he can go through a run of games struggling to influence the play.

He can also struggle aerially, but it would not have been an issue if Arsenal signed him, as they like to keep the floor on the deck.

Wenger is facing the possibility of having only one fit striker, Chuba Akpom, for his side’s opening fixture in the Premier League against Liverpool.

Supporters are crying out for the Frenchman to bring in support for Olivier Giroud – it remains to be seen if he gets any attacking deals over the line before the summer transfer window closes on August 31.