Arsenal have reportedly scheduled a meeting with Ligue 1 side Bordeaux to discuss a January deal for Brazilian winger Malcom.
Arsenal are now resigned to losing Alexis Sanchez and could still cash in on the Chile international during the mid-season window before he leaves on a free at the end of the season. Manchester City are understood to have made a new £20m offer for the forward and while the Gunners are holding out for a bigger fee, the player is now expected to be sold this month.
Arsene Wenger is unlikely to wait until the summer to bring in a replacement. Thomas Lemar, who almost joined the club from Monaco on the final day of the summer transfer window to replace Sanchez, has again been linked with a January move to north London but the club have another option in 20-year-old Malcom.
Manchester United and Tottenham Hotspur have already tabled bids for the Bordeaux starlet, but Arsenal are now exploring the possibility of signing the player. The Daily Mail report the Gunners have made enquiries into his availability, with Sky Italia claiming that "serious" interest has led to the club arranging a meeting with Bordeaux (Wednesday 10 January) to discuss the move. Such a deal would be entirely dependent on what happens with Sanchez, however, with the club ready to wait until the summer if they can keep the Chilean at the Emirates until the end of the season.
Malcom has emerged as one of Europe's brightest young talents following his move from Corinthians two years ago. Despite his club's inauspicious form this season, his return of seven goals and five assists has seen him emerge as a target for United, according to The Times, with Jose Mourinho's side now considering following up on that interest with an offer for the player who is expected to cost £26m.
Tottenham are also said to have made an offer for the winger, however, with Brazilian publication Esporte reporting earlier this month Mauricio Pochettino's side have made a bid worth £31m to bring the player to north London.
Malcom fuelled talk of a move to England last week, hinting he is preparing for life in the Premier League with an update on Instagram showing him busying himself with English language exercises during his spare time.