According to The Independent, Arsenal are in contact with Lyon over the possible move of Malick Fofana to the Emirates. The Gunners are reportedly looking to bolster all positions in their frontline this summer.
As such, they have identified Fofana as one of the summer targets given his flexibility to feature on both flanks in the attack. However, the aforementioned source added that Lyon has fixed Fofana's asking price at €60 million.
The fee is expected to rise when numerous interest clubs, such as Liverpool, Chelsea, Napoli, among others, begin to send in their bids. Fofana's willingness to exit Lyon is reportedly due to the club's financial struggles and demotion to the Ligue 2 at the end of last season.
While Lyon is appealing their demotion verdict, the Ligue 1 side are expected to sell the youngster. As a left-winger, Fofana could also feature on the right wing in attack. Thus, his versatility could stand to benefit Mikel Arteta's side if the deal becomes a reality. Fofana joined Lyon from KAA Gent in January 2024 and has registered 62 appearances since joining them, scoring 15 and delivering seven assists.
TBR Football recently reported that Gabriel Martinelli's camp has revealed that the Brazilian will reconsider his future if Arsenal sign another left-winger. Thus, Fofana could be a decent and long-term replacement for the Brazilian if he leaves the Emirates.
"They’ve always wanted to strengthen on the left wing" - David Ornstein on Arsenal's transfer plans

Journalist David Ornstein has claimed that Arsenal remain interested in strengthening the left wing this summer. However, the transfer expert added that the possibility of a new left-winger depends on the future of Gabriel Martinelli.
In an interview on The Athletic podcast, Ornstein said (via Just Arsenal):
“They’ve always wanted to strengthen on the left wing, but they’ve got Gabriel Martinelli, a very fine player, there already, If he were to leave, then you can see them bringing in a top left-sided winger. If he’s not to leave, then I don’t think so. We’ve talked and reported on Rodrygo and Anthony Gordon. I think that’s if Martinelli leaves. I don’t necessarily think that’s if he were to stay.”
The Gunners have been linked with a good number of left-wingers this summer, including Malick Fofana. As per GiveMeSport, the Gunners are also interested in signing Newcastle United's Anthony Gordon this summer.