The Daily Mail is reporting that the Gunners would be open to the idea of selling the France striker to their London rivals as they close in on the signing of Pierre-Emerick Aubameyang.
The same report says that Chelsea FC officials discussed the possibility of trying to sign Giroud from Arsenal this month as they struggle to find a new striker to add to their squad.
The story also claims that the Blues could be tempted to pay the high price because he would be available in the Champions League and is already settled in London.
Chelsea FC have been linked with a host of players in the January transfer window as Antonio Conte looks to add some more firepower to his squad at Stamford Bridge.
Meanwhile, the Blues are currently preparing for their Premier League clash against Bournemouth at Stamford Bridge on Wednesday night.
The west London side head into the game fresh from having secured their place in the fifth round of the FA Cup with a comfortable 3-0 win over Newcastle on Sunday afternoon.
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