The Gunners have endured a torrid few months with Alexis Sanchez’s future up in the air, as well as Mesut Ozil’s.
There is not much talk on Ozil’s current situation at the moment but Sanchez is likely to complete a move for Manchester United in the coming days.
And that has prompted Arsenal into looking for reinforcements with Mkhitaryan expected to be included in a deal for Sanchez.
Reports have escalated in the past few days suggesting Aubameyang is fighting for a move to the Emirates and has already agreed personal terms in a deal that could be worth £53million.
But Balague claims Arsenal could have brought in both Mkhitaryan and Aubameyang for much cheaper years ago.
“He knows the conditions and he’s happy with them,” Balague told Sky Sports’ Transfer Talk podcast.
“They cannot agree anything yet because he’s under contract but Arsenal, I think, have convinced the player.
He added: “Arsenal were told that Aubameyang had to be signed last summer but that has been little bit of the problem at Arsenal in recent times.
“They’ve been linked with players before they cost a huge amount of money that they cost and they weren’t brave enough or have enough money, and i think it’s the second one, to go for them.
“We talk about Mkhitaryan, they were actually interested him five years ago, and then again three years ago, and two years ago.
“It is obviously another player that suits Arsenal completely but they decided not to go with him.”
