Arsenal have reportedly upped their offer for Pierre-Emerick Aubameyang to £50million.
The Gunners had previously seen a £45m approach turned down by Borussia Dortmund, as they look to get a big money deal over the line before the end of the transfer window.
Arsenal have already landed Henrikh Mkhitaryan in a straight-swap for Alexis Sanchez, who has gone to Manchester United.
Dortmund have been holding out for £60m for Aubameyang, who is the second top goalscorer in the Bundesliga this season with 13 goals.
Bild report that Aubameyang will be offered €20m-a-year (£17.5m) in wages - equating to around £335,000-a-week.
It is claimed that Arsenal have set a 48-hour deadline set to the German club to respond, in order to give Arsene Wenger time to look at contingency plans if the bid is turned down.
Aubameyang would be reunited with Mkhitaryan if he moved, after the pair played together in one of Dortmund's most successful squads.
Meanwhile, Arsenal fans believe that Aubameyang has given the clearest hint yet that he is on his way to the Emirates.
He has kept quiet for most of the transfer saga but took to Twitter on Tuesday night by sending a cryptic tweet to Dortmund teammate Dan-Axel Zagadou.
The message ended in "xxxxxxL" - and it sent pulses racing in north London, with some fans thinking it said Arsenal.
Speaking on Tuesday, Wenger offered an update on the transfer.
He said: "Confident or not confident, I don’t know.
“We are not close to a deal for Aubameyang with Dortmund or anybody else. He is one of our possible movements but there are others."