Arsenal are set to try their luck again and prepare a fresh world record bid for Monaco's striking sensation Kylian Mbappe.

The Gunners previously had a club record £87m ($111m) offer for the Frenchman turned down in June while Real Madrid also had a bid rejected in the region of £103m (€120m).

According to The Mirror, however, manager Arsene Wenger will launch another offer of £125m ($164.7m) and will use his connections in France to try and persuade the 18-year-old to join Arsenal over Madrid and any other interested club such as Liverpool who are reportedly monitoring the striker's situation.

The report also states that Wenger has spoken to Mbappe's father Wilfried, claiming that his son will suffer from a potential lack of first team action at the Bernabeu whereas, at the Emirates, he would be the first choice striker.

Mbappe became Europe's hottest property after his exploits in Monaco's title-winning 2016/17 season with the club also reaching the Champions League semi-final. The France international scored 26 goals in all competitions, including 15 league goals and was named the Ligue 1 Young Player of the Year.

He also revealed that he was aware of the massive interest he was garnering following France's win over England earlier in June.

"We're going to go away with the family and we'll think about what's going to happen," Mbappe said, as quoted by Goal.

"We have to sort it out, see what happens with the club too, because I'm under contract with a club, I'm not free. We'll see what's happening."

Meanwhile, The Mirror also states that the north London club will go all-out for Mbappe's Monaco teammate in Thomas Lemar, who has attracted the interest of the likes of Barcelona and Manchester United.

Arsenal have already seen a reported offer of £31m ($40.2m) rejected for the 21-year-old but are expected to continue their pursuit for the Frenchman, putting Theo Walcott's Gunners career in jeopardy.

And while the club was reportedly closing in on another Frenchman in Alexandre Lacazette, The Mirror claims a deal is far from completion as the Lyon man wants to play alongside compatriot and close friend Antoine Griezmann at Atletico Madrid.