Arsenal have been indirectly told by Toulouse president Olivier Sadran that the club will allow Serge Aurier to leave only if a sizeable bid is tabled during the summer transfer window.
The 21-year-old, who was named in this season's Ligue 1 Team of the Year, is reportedly being targeted by Arsene Wenger as a replacement for the departing Bacary Sagna. The French international, whose contract expires next month, is believed to be on the verge of signing for Manchester City, leaving Carl Jenkinson as the only right-back in the Gunners' squad.
Wenger is looking to make a maximum of three signings in the summer having ended their nine-year trophy drought after lifting the FA Cup this month. Sadran states that any offer tabled for Aurier from top European clubs will be considered only if Toulouse consider the deal to be progressive for all concerned parties.
"No, [Toulouse have not authorised Aurier to leave] not even informally. But then, true to our line of conduct, which is valid for every player, if there is an offer that cannot be refused and the moment is right," Sadran explained.
"To be precise for Serge, if there is an offer from a club in the top five or ten in Europe, and it's acceptable, we will not refuse it. We can imagine that he could continue to play [with Toulouse] for one more year."
Last month, the Metro had reported that Arsenal were in negotiations with Aurier but are yet to make any formal approach to his current employers for his services. It also claims that the Ivorian, who can also play as a left-back or a right winger, is valued at £10m.
The right-back, who is also a target for Ligue 1 champions Paris Saint-Germain, had admitted that he desires to play in the Premier League and will not refuse a move to the Emirates if the Gunners come calling.
He is likely to play in the World Cup for Ivory Coast next month after being named in the 28-man provisional squad by national team manager Sabri Lamouchi.