The French website are reporting that the 24-year-old is locked in negotiations with Lyon president Jean-Michel Aulas about a new deal. His current contract expires at the end of the season.
Monaco are said to be the keenest to sign Ghezzal and have reportedly opened discussions with the player about making the switch to the principality. The Algerian international is however the subject of interest from a number of other European clubs with the Gunners, Atletico Madrid, Valencia, AC Milan and Everton all circling.
Ghezzal’s currently is believed to be earning just £8000 a week but a new deal close to £65,000 a week is said to be on the table from Lyon. Whether Arsenal would look to match that offer it is not known. The winger’s performances this season have not been spectacular, with two goals and five assists in 19 appearances.