The French newspaper says the Monaco midfielder wants to join the Gunners this summer and Ghezzal looks poised to join the Ligue One champions after leaving Lyon at the end of his contract in June.
AC Milan were believed to be interested in the Algerian international but they have not made a firm offer for the 25 year old, and Nice were also in the running before they withdrew their interest after discovering the player’s contract demands.
L’Equipe report that Ghezzal will get a €180,000 a week (£163,000 a week) and a €3million (£2.71m) signing on bonus if he opts to join the French League club.
He generally plays off the right hand side while Lemar played almost exclusively from the left wing last season for Monaco. The additional arrival of Adama Diakhaby from Rennes for £8.5m on Wednesday though could allow for Lemar to make the move to the Premier League.