Boss Arsene Wenger has told associates the Lemar deal does not hinge on Alexis Sanchez being sold in the New Year.
Sanchez was set to move to Manchester City last week until Arsenal pulled the plug at the last minute after they fell short of his £60m price tag.
Wenger has not completely given up hope of Sanchez signing a new contract, with his current one running out at the end of the season.
But if he doesn’t, the Gunners may have to accept as little as £30m if City swoop for him again in the next transfer window
Despite being widely reported that Lemar snubbed the Gunners on deadline day, it now appears there were genuine problems in pushing the deal through in time while the 21-year-old was on international duty.
France manager Didier Deschamps insisted his players concentrated on their World Cup qualifier that day against the Netherlands in which Lemar scored a wonder goal.
The £92m buy would shatter Arsenal’s transfer record.
Incredibly the club passed up on signing him for £60m earlier in the summer due to concerns over his commercial value. But now the struggling north Londoners – who have lost two out of their first three games in the Premier League – are ready to pull out the stops to land him.