Alexandre Lacazette is set to join Premier League club Arsenal FC this week for around $56.9m. Elsewhere, former Liverpool keeper Pepe Reina is set to stay at Serie A club SSS Napoli this summer window, despite interests from newly promoted EPL side Newcastle United. AC Milan are confident they'll tie up a deal for Tottenham and Arsenal target Haken Calhanoglu. Here's a complete report of the latest transfer updates Making The Rounds.

Arsenal close in on Lacazette move

Lacazette has been heavily linked with a possible move to Arsenal for much of this summer as the North London club seek to lift themselves into the EPL title contention title contention next season.

The outspoken Lyon president, Jean-Michel Aulas has previously insisted the France striker is going nowhere this summer. However, quoted in L'Equipe on Sunday, Aulas said: “The transfer of Lacazette to Arsenal this summer could be finalized in a couple of days. The €66.8m ($75.9m) announced by some sources in England wasn't actually true. Arsenal's first offer was €44.5m ($51m) and the transfer will be done for a fee of between €44.5m ($51m) and €50m ($56.9m). Being close to €50m ($56.9m) is something “unique” and would certainly be a record fee for Arsenal, and also for our club.”

Alexandre Lacazette scored thirty-seven times in all competitions for Olympique Lyon, including twenty-eight in thirty Ligue 1 matches.

Napoli keen on keeping Reina for another season

Pepe Reina has been discussing a new-deal with Napoli as his current contract is due to expire next year. However, the Italian club don't want to let the Spaniard leave even though they run the “risk” of losing him for free in twelve months time. According to the Sun, Napoli have now made that decision final, and they have now told the former Liverpool keeper he won't be leaving the club this summer.

The 34-year-old keeper is still set to hold talks with the Italian club over a new contract, but whether they're “successful” or not will certainly have no bearing on his future with the club this summer.

AC Milan keen on signing Calhanoglu

Haken Calhanoglu has set is heart on leaving Bundesliga outfit Bayer Leverkusen this summer, and he's likely to have plenty of offers on the table.

Tottenham and Arsenal are both big admirers of the midfielder, however, it is AC Milan who's now leading the chase for the Turkey international. AC Milan have even agreed in principle personal terms with the 23-year-old midfielder and it was thought the deal could be on the “rocks.” However, according to Mirror, the Italian giants are still confident the transfer will go through this time despite the both parties' differences in the transfer talks. Bayer Leverkusen wants $28.4m for the Turkey international, but so far they've only received a formal bid of $24.5million plus bonuses from AC Milan.

Though AC Milan are willing to return with a fresh offer of $28.4million plus bonuses, and they are confident this new bid will get the deal done in the coming days.