However, talks surrounding a new contract are said to be on-going, with the attacker keen to remain in North London.
It had been reported that he’d rejected a previous offer from the club, as he sought guarantees over his playing position.
Arsene Wenger has deployed the 23-year-old in his favoured central attacking role in recent weeks, a position in which he has flourished.
He was also unhappy with basic wage being offered by the Gunners, who were unwilling to meet his £90,000-per-week demands.
However, it is thought that the club have increased their offer of £75,000-per-week by around £10,000.
This will, likely, see the ex-Southampton man end the months of uncertainty surrounding his future within the next few weeks.
There have been reports that the player’s advisors met with members of the Arsenal hierarchy within the past few days, but this speculation is thought to be untrue.