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Arsenal have been told that Lucas Perez deal is close and warned not to price unsettled forward out of a move.
Spanish forward is keen on to return to Deportivo that are ready to pay £10.9m for his signature.
However, Arsenal are believed to demanding around £20m for Spaniard. Premier League newcomers Newcastle and Brighton are also keen on to sign the 28-year-old forward who has failed to settle at Emirates Stadium.
Perez’s agent Rodrigo Lovell said: “The £10.9m that Deportivo have offered Arsenal is a great deal for all parties.
“Remember Deportivo received £12.7m when they sold him a year ago.
“They are giving everything to make this transfer possible.”
The 28-year-old Spaniard has made only two Premier League starts last season and his time at Emirates Stadium will be decreased following Alexandre Lacazette’s £52m arrival.
Lovell added: “Lucas just wants to play. I’m hopeful an agreement can be reached.”
Meanwhile, Arsenal summer signing Alexandre Lacazette has celebrated his Premier League debut with a goal as his side managed to beat Leicester City in a dramatic way 4-3, Lacazette’s compatriot Olivier Giroud has saved the day with a header that has seen the Gunners to earn their first three points of 2017/18 season.