Arsenal must either meet Borussia Dortmund's £60m asking price for Pierre-Emerick Aubameyang, 28, or look elsewhere.

The Bundesliga side have told Arsenal they will need to break their £52m transfer record to sign Aubameyang.

Arsenal remain confident of signing Borussia Dortmund forward Pierre-Emerick Aubameyang, despite having a second bid rejected, with Gunners boss Arsene Wenger already planning the 28-year-old Gabon striker's debut.

Arsenal have increased their offer for Borussia Dortmund and Gabon forward Pierre-Emerick Aubameyang, 28, from £48.3m to £50.9m

Borussia Dortmund are demanding Arsenal's France striker Olivier Giroud, 31, in part exchange for Gabon forward Pierre-Emerick Aubameyang, 28, or they will put the deal off until the summer