Lemar was a key figure in the club's title success.
Last season's Champions League semi-finalists have sold midfielder Bernardo Silva, 22, to Manchester City for £43.5m and also look like losing left-back Benjamin Mendy, 23 tomorrow, to Pep Guardiola's club.
Lemar has another three years left on his current deal and the numbers agreed with the Gunners dwarf his current relatively modest Ligue 1 pay packet.
He's announced that "Arsenal (are) growing less optimistic of signing Lemar". His ambition, his aim, is certainly to go a little further.
Lacazette hit the ground running with a goal on his debut against Sydney FC on Thursday
Lemar helped Monaco to the Ligue 1 title last season, scoring nine goals and claiming 10 assists, and former Arsenal and France winger Pires believes his countryman would be an excellent addition. "In this situation, the player will have a say, but he is not always the only one to decide".
Managers are now pressing ahead with their plans for the summer transfer window so we'll bring you all the latest news and gossip from around the globe.
Arsenal have already signed Alexandre Lacazette from Lyon in a deal that could rise to £52m, but Wenger is eyeing more attacking reinforcements as speculation surrounding Alexis Sanchez's future continues.
L'Equipe understood last week - as reported by GFFN - that Monaco vice president Vadim Vasilyev had no intention with negotiating with Arsenal at all for Lemar, even while the belief is that he would consider a sale for an extortionate price.
"Overall I think it is a huge advantage".
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