Barcelona were linked with the forward earlier this week but the Madrid outfit are considering a bid to prise the forward away from London.
Griezmann announced he would be leaving Los Colchoneros at the end of the season and Barcelona were immediately installed as frontrunners for his signature.
However, Paris Saint-Germain have also shown interest in the Frenchman and Atletico deal-makers are looking to get as much money as possible for their talisman.
According to French outlet Le 10 Sport, Arsenal have reportedly had an approach from the LaLiga club over a deal for Lacazette.
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While no formal talks have been opened, the Gunners will be wary of their striker becoming unsettled by the interest, especially as both Barcelona and Atletico can guarantee Champions League football next season.
The 27-year-old has become a crucial member of Unai Emery’s squad, notching up 13 goals and eight assists this season to be named the Gunners’ Player of the Year.
However, Atletico have also shown interest in PSG marksman Edinson Cavani, which will come as a relief to Emirates deal-makers.
Last weekend, Lacazette admitted he was ‘flattered’ with the reports linking him to Barcelona.
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