The Lyon striker has been a target for the Gunners for two transfer windows now. He has been impressive and several European teams have been tracking him.
Lacazette has score at least 20 goals for the past three season, and has already scored 24 goals in 27 matches this season.
Liverpool are planning to sell Daniel Sturridge this summer, and Jurgen Klopp believes that Lacazette would be an upgrade to the injury prone Englishman.
Arsenal wants him to replace Alexis Sanchez as they believe the Chilean may not accept any new deal from them.
The striker recently admitted that his future will be determined by the calibre of teams who want to sign him. This has added fire to the rumours that he would certainly not be playing for them next season.