There have been widespread reports linking the Gunners with a move to sign the French international as Arsene Wenger looks to bolster his attacking options ahead of the new season.
However, Telegraph reporter says that Monaco are determined not to sell the 21-year-old this summer – and that could prompt Arsenal into making a huge bid for the Frenchman.
Burt wrote on Twitter: “Monaco position on Thomas Lemar remains unchanged. They will not sell this window. So maybe then Arsenal will have to offer crazy money.”
Arsenal are on the lookout for their third signing of the summer after having already tied up deals to land Alexandre Lacazette and Sead Kolasinac.
Wenger will surely be keen to further bolster his squad this summer as he prepares his team to try to mount a title challenge next season.
The Gunners failed to produce consistent performances last season in the Premier League as they slumped to a fifth-placed finish before winning the FA Cup.
Arsenal are preparing for a season in the Europa League after their top-flight disappointment last term.
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