Monaco have agreed a fee with Angers for winger Jeff Reine-Adelaide, a player who Arsenal have a sell-on clause for.
Reine-Adelaide has impressed in France with Angers and his performances have not gone unnoticed, with several clubs showing keen interest in securing his services this summer.
Portuguese giants FC Porto, along with Ligue 1 sides Lille and Lyon, are firm fans of the France Under-21 international.
However, Monaco are in pole position to sign Reine-Adelaide and have agreed a fee with Nice for the former Arsenal man, according to French daily the Nice Matin.
It is unclear what level the fee will be, with Arsenal being entitled to ten per cent of the amount by virtue of the sell-on clause.
Monaco must still find an agreement on personal terms with Reine-Adelaide's agents and have been holding talks to find common ground on a contract at the Stade Louis II.
Arsenal will likely receive the sell-on cash too late to use in the Premier League transfer window, which closes at 5pm today.
Monaco are under no pressure to push the deal for Reine-Adelaide over the line soon as the window in France is open until 2nd September.