The France international has been expected to become a Gunners player for some time, with the London club thought be interested in his signature.
Arsene Wenger has already swooped for Alexis Sanchez, and is still thought to be eyeing his compatriot in a £10m deal.
QPR are resigned to losing the forward, with his release clause rendering keeping him at Loftus Road near impossible.
The Emirates Stadium side are ready to pay what is needed to their cross-city rivals, yet they’re reluctant to match Remy’s £80,000-per-week salary demands.
The 27-year-old is a big earner with the Super Hoops and he believes that his displays while on loan at Newcastle least season – he netted 14 goals – warrant the cash he is asking for.
Liverpool and Tottenham may look to take advantage of Arsenal’s backtracking, with both sides reportedly watching the versatile attacker.