Arsenal will reportedly offer Gervinho as bait to land Lyon midfielder Clement Grenier.
The Gunners are believed to be keen on the 22-year-old, while Les Gones have shown an interest in the former Lille star.
According to The Mirror, the North London club are considering an £8m-plus-player deal to land the France international.
Gervinho has expressed a desire to stay at the Emirates Stadium this summer, despite reports that he has no future at the club.
Lille are reported to be interested in the Ivorian, who has scored just nine Premier League goals since his £10.8m move two years ago.