Arsenal will officially announce the signing of Alexandre Lacazette in the next 48 hours.
Lyon boss Jean-Michel Aulas has confirmed that the two clubs have reached a financial agreement.
The Frenchman has scored a total of 129 goals in 275 games in all competitions for the French giants.
He will become Arsene Wenger's second summer signing after Sead Kolasinac joined from Schalke 04.
"The transfer of Alexandre Lacazette to Arsenal could be done in one or two days," Aulas told Le Progres.
"We will probably reach a new record, it's not a small transfer, €50m for a player trained by our club.
"The first offer made by Arsenal was €45m. The deal will happen for something between €45m and €50m.
"The €67m announced by English sources and relayed was an impossible and not realistic sum."
