Arsenal could reportedly allow Alexandre Lacazette to join Atletico Madrid this summer with Thomas Lemar potentially moving in the opposite direction.
The financial impact of the coronavirus outbreak means that clubs are likely to have to explore the swap market ahead of the 2020-21 campaign.
The Gunners were linked with Lemar during the January transfer window, and a report last month claimed that the capital outfit were still interested in the 24-year-old.
The Frenchman has failed to score or register an assist in 24 appearances for Diego Simeone's side this season but impressed for Monaco before arriving in Spain.
Lacazette, meanwhile, could allegedly be surplus to requirements at the Emirates Stadium this summer as head coach Mikel Arteta looks to freshen his options in the final third.
According to Fichajes, Arsenal are considering offering Lacazette to Atletico in a straight swap for Lemar, who has also recently been linked with Manchester United.
The Gunners are also allegedly interested in signing Toulouse midfielder Ibrahim Sangare.
