Arsenal are prepared to let Pierre-Emerick Aubameyang leave for nothing in 12 months rather than sell him in a cut-price transfer this summer.
The 30-year-old has been a leading light at the Emirates since joining in January 2018.
Talks over a new deal were due to have begun but the coronavirus pandemic saw them shelved.
Aubameyang is now set to enter the final year of his current deal despite Head of football Raul Sanllehi declaring that no player will be allowed to run down his contract.
The knock on affects of covid-19 could mean massively reduced transfer fees as clubs battle the financial climate.
Arsenal though do not want to part with Aubameyang for anything less than £50m and would rather lose him for nothing in 12 months time if their valuation can't be met, reports the Sun.
The Gabon international earns £200,000-a-week in north London and current Gunners boss Mikel Arteta was set to take a hands on approach to negotiations.
The Spaniard was keen to sit down with the striker and his father rather than delegate the responsibility to the club's chiefs, according to the Telegraph.
Aubameyang picked up the Golden Boot last year and has notched 61 times in less than 100 games for Arsenal.
Chelsea, Inter Milan and Barcelona are said to be some of the interested parties but earlier this year Aubameyang moved to dismiss speculation linking him with a move away.
He said in a club programme: “I would like to react to some of the rumours that are going around about me in the media.
"People like making up stories and they should focus on what’s happening on the pitch. They talk too much and it does my head in!
“I am the Arsenal captain. I love this club. I am committed to it and desperate to bring it back to the top, where it belongs.”
