Atletico Madrid will reportedly try to capitalise on the impasse between Alexandre Lacazette and Arsenal to sign the Frenchman as a free agent this coming summer.
Lacazette's five-year deal expires at the end of June 2022 and he could leave the Emirates for free should he opt to run down his contract.
The 30-year-old will be allowed to discuss terms with other clubs from January ahead of a possible move next summer and Atleti are keeping tabs on the former Lyon striker as Diego Simeone looks to bolster his attacking options.
According to French outlet Le 10 Sport, the reigning Spanish champions retain a good relationship with Lacazette's representatives and could offer him a way out of the Emirates, where negotiations over a new contract with Arsenal 'are not moving in the right direction'.
Luis Suarez scored 21 goals in LaLiga last season as Atleti clinched their first league title in seven years, with Marcos Llorente the club's second-highest scorer with 12 goals.
Atleti have brought back Antoine Griezmann in the summer, two years after the Frenchman left for Barcelona, but Simeone remains keen to add a proven attacking option to his team.
The Argentine has been a long-time admirer of Lacazette and was eager to bring the forward to Madrid in the summer of 2017, going as far as agreeing a deal with Lyon.
The move, however, never materialised after the Colchoneros were hit with a transfer ban by FIFA after being found guilty of breaching international transfer rules related to the signing of under-16 players.
Atleti's loss was Arsenal's gain as Arsene Wenger signed his compatriot for a club record fee £46million. However, with Lacazette's future in north London increasingly uncertain, the LaLiga giants are again understood to be keen on signing the striker.
Since swapping Ligue 1 for the Premier League in the summer of 2017, Lacazette has scored 67 goals and contributed 29 assists in 173 appearances across all competitions.
However, his opportunities this season have been few and far between.
The Frenchman missed the first two Premier League games of the campaign after contracting coronavirus last month and has only played 31 minutes of league football so far, coming on a substitute during Arsenal's 5-0 thrashing at the hands of Manchester City on August 28.
An unused substitute in the Gunners' last two Premier League games, Lacazette made his first start of the season on Wednesday night, scoring in the Gunners' 3-0 win over AFC Wimbledon in the third round of the Carabao Cup.
The goal was his second in the competition this season, coming a month after he scored in the 6-0 rout of West Bromwich Albion in the previous round.
The win was the Gunners' third straight in all competitions and Arsenal boss Mikel Arteta said the 'mood had changed' ahead of Sunday afternoon's derby against Tottenham.
'Winning matches brings that connection and belief and makes the fans happier. They have always been with the team. We expect them to be at higher level against Tottenham because we need them.
'Confidence rises, competition brings the best out of you when you have difficult moments. The boys have managed to win three games in a row so credit to how they have handled the situation. Now they are looking forward to Sunday in what is the biggest game of the season for us.'