Liverpool swatted Arsenal away 4-0 in their recent Premier League encounter and raided the club for Alex Oxlade-Chamberlain.
However, the Gunners are determined to put one over the Merseyside outfit by beating them to the signing of Thomas Lemar.
Arsenal are said to have launched a mammoth £90 million bid to tempt AS Monaco into selling them their prized asset.
The fee would dwarf Liverpool’s bid for the Frenchman which is believed to be in the region of £70 million.
The Londoners could be attaining their funding for the move from the sale of Alexis Sanchez to Manchester City.
Having already banked £35 million for Oxlade-Chamberlain, Arsene Wenger is considering selling the Chilean to the Manchester club who have offered £55 million and £5 million in add ons.