Arsenal have had an £87million bid for Kylian Mbappe rejected by Monaco.

The Gunners are keen to make a marquee signing early in the transfer window as a statement of intent that shows they are ready to challenge for the Premier League title under manager Arsene Wenger, who signed a two-year contract extension on Wednesday.

News of Arsenal’s bid emerged in France late on Thursday and Standard Sport understands the offer was turned down on Friday morning by Monaco, who are desperate to keep the 18-year-old at the club for at least another year.

The French champions rejected a £105m bid from Real Madrid last month and although Arsenal have come in at a lower price, it is understood their package contained more money up front with fewer add-ons and performance-related payments.

Arsenal have yet to decide whether to return with an improved offer but the mere fact the club are prepared to countenance transfers at this level is an indication of a step-change in their thinking.

Wenger revealed in May that he almost signed Mbappe last summer before the winger signed a new deal to stay at Monaco.

“The player would tell you that I was at his home last year to try to get him,” said the 67-year-old.

“He was at the end of his contract but Monaco managed to keep him and the decision was very, very tight. But I could understand it as well because he was educated there and at the end decided to stay there.”

Arsenal face competition from most of Europe’s top clubs with Real, Manchester United, Manchester City, Bayern Munich and Paris Saint Germain all holding a genuine interest.

The Gunners have already proved they can rival leading clubs in wage demands having offered Alexis Sanchez and Mesut Ozil £300,000-a-week and in excess of £250,000-a-week respectively.

Wenger is hopeful that a knock-on effect of landing Mbappe would be to convince Sanchez and Ozil that their futures lie at Arsenal. Both players will take the club’s transfer strategy into account before making their decisions with just a year left on their existing agreements.

Should Arsenal not receive any encouragement in their pursuit of Mbappe, they will consider turning their attentions to Lyon striker Alexandre Lacazette.

Their hopes received a boost yesterday when it emerged Atletico Madrid, who were in pole position to land Lacazette, will remain under a Fifa transfer ban until January after the club were found guilty of signing under-age players.

Arsenal are not put off by Lyon’s 60m euro (£52.3m) asking price and it is understood they would be prepared to sanction a bid in that region.

Lacazette is expected to leave Lyon this summer but Arsenal face a challenge to convince the 26-year-old to move to Emirates Stadium given he claimed recently he would only play for a team in the Champions League.

Manchester United and Liverpool can offer participation in Europe’s premier club competition but Wenger is firmly of the belief that Arsenal will spend only one year out and will offset the prospect of a Europa League campaign with an increased wage offer.

Wenger will also be handed any funds from players sales to increase his £100m budget with the futures of David Ospina, Wojciech Szczesny, Joel Campbell, Kieran Gibbs, Alex Oxlade-Chamberlain, Jack Wilshere and Kieran Gibbs all uncertain.

