The Gabonese who has been on the radars of Arsenal for some time now is expected to be the highest paid player in the new team.
Aubameyang has been offered a deal worth of £180,000 a week as they look to fortify their attacking options.
Arsene Wenger is hopeful of wrapping off the formalities of the deal as he arrives London.
The Frenchman is currently gearing up for Arsenal’s clash with Swansea on Tuesday night
Meanwhile, Sport Bild are reporting that Borussia Dortmund have lined up their replacement for Aubameyang, with Chelsea striker Michy Batshuayi to be loaned to the Bundesliga outfit.
Dortmund had looked at signing Giroud but a move for the Frenchman failed, with the striker’s family wanting to stay in England.
Aubameyang’s arrival means Arsenal will allow Giroud to move to Chelsea should their London rivals meet the club’s £35m valuation.
Chelsea discussed Giroud over the weekend as they are struggling to strike an agreement with Roma for Edin Dzeko and Emerson Palmieri.
Olivier Giroud may be on his way out of Arsenal, with a move to Chelsea a real possibility
Antonio Conte will be looking to acquire Giroud’s services from Chelsea’s London rival Arsene Wenger, who is eager to build a squad that can fire Arsenal back into the Champions League, was pictured arriving for training on Monday with the deal for Aubameyang drawing ever closer.
Wenger is currently gearing up for Arsenal’s Premier League clash with Swansea on Tuesday night at the Liberty Stadium.
The north London outfit sit sixth in the English top flight, five points off fourth-placed Liverpool with 14 matches remaining.
Aubameyang will be an excellent addition to Arsenal’s squad in the hunt for a top-four spot, with the 28-year-old having netted 13 goals in the Bundesliga this season after finishing last campaign as the league’s top scorer.