Sky Sports published an update on their live transfer blog at 19:39 BST on Wednesday evening that claimed the north London side still want Lemar.
The story on the media outlet’s website reveals that talks are continuing between the two clubs about the potential signing of the 21-year-old attacker.
According to the update, Arsenal may have to break their transfer record for the second time this summer to secure the France international’s signature.
Arsenal signed Alexandre Lacazette in a £52m deal from Ligue 1 side Lyon last month to bolster their attacking options.
Lemar netted eight times and made nine assists in the French top flight last season to help Monaco beat Paris Saint-Germain to the title.
Arsenal are bracing themselves for Alexis Sanchez’s potential departure, with less than 12 months remaining on his current deal.
The Gunners take on Chelsea in the Community Shield at Wembley on Sunday afternoon.
– Thomas Lemar moved to AS Monaco from Ligue 2 side Caen in the 2015 summer transfer window.
– The 21-year-old scored five times in 34 top-flight games in his first season in the Principality.
– However, Lemar came into his own with a return of 14 goals in 55 appearances in all competitions in 2016-17.
– The France star helped AS Monaco to win the Ligue 1 titles and reach the Champions League semi-finals before losing to Italian club Juventus.
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