Aubameyang's contract only runs for 14 more months, and he is reportedly keen to move on from the Emirates to play UEFA Champions League football.
Metro and The Sun report Arsenal are resigned to losing their captain and pulled out of contract talks with him, so rather than see him leave for free, like Aaron Ramsey to Juventus, would accept a cut-price offer.
That reduced price is reportedly £30 million (A$57m), around half the price Arsenal paid for the Gabonese striker to transfer him from Borussia Dortmund.
This could also spurred on by Arsenal expecting to take a large financial hit due to the COVID-19 crisis, and with other clubs unlikely to spend big.
Chelsea, Barcelona, Inter Milan and Real Madrid have been strongly linked with Aubameyang. The Gunners would of course prefer to sell him to an overseas club.
Aubameyang has scored 61 goals (13 assists) in 97 matches in all competitions since joining Arsenal - 20 goals in 32 games this season.
