Lacazette is on the verge of becoming Arsenal’s club-record signing for a fee of around £44million (€50m).
Lyon president Jean-Michel Aulas all-but-confirmed the move last night with Lacazette expected in London for a medical imminently.
And according to French newspaper Le Parisien, Arsenal have been following the striker since he was 15 years old.
Gunners scout Gilles Grimandi apparently recommended Lacazette to Wenger as a teenager, but he was failed to be convinced.
The report adds France boss Didier Deschamps was another who had doubts about Lacazette, with the 26-year-old missing out on selection at Euro 2016.
He has earned 11 caps, but only one of which has come since 2015.
But Lacazette’s form last season, where he scored 37 times in 45 games, persuaded Arsene Wenger to revive his interest in the 5ft 9in frontman.
Le Parisien say Wenger met with Lacazette in Paris in mid-June, explaining face-to-face exactly why he wanted to sign him.
At the time Lacazette was thinking of joining Atletico Madrid, before their transfer ban scuppered any deal.
The Lyon-born star is believed to have been happy to join Arsenal despite their lack of Champions League football, such was the “project” at the Emirates sold to him by Wenger.
Lacazette’s fee will eclipse the £42.5m Wenger paid Real Madrid to land Mesut Ozil back in 2013.
“Alexandre Lacazette’s transfer to Arsenal could be actioned within the next day or two,” Aulus said yesterday.
“The figure reported by the English media of around €67m (£58.8m) – including €12m (£10m) in add-ons – is impossible and not realistic. Arsenal’s first offer was around €45m (£39.5m), the transfer will be concluded in the range of €45m (£39.5m) to €50m (£43.9m).
“It constitutes, without doubt, a record transfer fee for Arsenal, and for Lyon of course!”