Arsenal have increased their offer for Borussia Dortmund striker Pierre-Emerick Aubameyang to £50.9million.

Talks are ongoing between club representatives with Arsenal's Olivier Giroud also part of negotiations.

All parties want the respective moves, including Giroud to Dortmund, but must still agree the final fees.

The Gunners have already seen a £43million offer turned down by the Bundesliga side but have now returned with a bid much closer to Dortmund's valuation of £53m.

Should Arsenal meet Dortmund's demands it would smash their existing transfer record set last summer with the signing of Alexandre Lacazette from Lyon.

Arsenal remain confident of sealing a deal this month - but Dortmund's stance is proving problematic at this stage.