Arsenal have offered Real Madrid an extraordinary transfer involving Alexandre Lacazette that would see Gareth Bale move to the Emirates Stadium, according to Defensa Central.

The Gunners intend to sell Lacazette during the mid-season market to avoid him leaving for free next summer. He has just eight-months remaining on his contract in north London, so they hope to find a suitor willing to strike a deal this winter to receive some compensation.

Lacazette has so far rejected Arsenal’s attempts to agree a new contract after months of negotiations with his representatives. Additionally, report he wants to hold out on securing a transfer until his £182k-a-week deal expires next June.

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Arsenal Technical Director Edu continues to work on ways to potentially offload Lacazette this winter, however, and has allegedly approached Real Madrid to discuss a shock swap deal involving former Tottenham Hotspur forward Bale returning to north London.

Yet the Gunners’ proposal is unlikely to work out, as Los Blancos are no longer interested in Lacazette. The La Liga giants have courted his services previously, but are prioritising deals for Erling Haaland or Kylian Mbappe now.

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Real Madrid also prefer to wait until next summer before signing a striker, while Arsenal would have difficulties acquiring Bale. The Emirates hierarchy refuse to match the winger’s current £500k-a-week wage, and would demand he lowers his expectations to join.

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Wages not the reason Arsenal won’t sign Bale in Lacazette swap transfer

Bale’s salary is a hurdle Arsenal would have to cross to sign the Real Madrid winger, but it is not the main reason they will not sign him in exchange for Lacazette in a January transfer.

The forward’s ties with Tottenham also makes it very questionable either would consider a deal. He reignited his association with Arsenal’s north London rivals while on loan from Los Blancos last season. A period which saw interim boss Ryan Mason laud Bale, via The Star, for delivering ‘outstanding’ performances.

Arsenal are clearly working to offload Lacazette in the mid-season transfer window to avoid him leaving for free, however. La Razon claimed recently Edu wants to use the Frenchman to lower Sevilla’s €45m (£38m) valuation of Youssef En-Nesyri.

The Gunners could also strive to use interest from Italy to offload their £46.5m signing from Lyon in 2017. Gazzetta dello Sport report Inter Milan like Lacazette and could move for him in January, but are also open to waiting until his Arsenal contract expires to avoid any fee.