Arsenal and Dortmund are close to agreeing to a £60m transfer fee for striker Pierre-Emerick Aubameyang.
Reports indicate that the two clubs are locked in negotiations and the deal should be finalised today.
Arsenal had a bid in excess of £50m rejected, with Dortmund's sporting director Michael Zorc saying they would only let the 28-year-old go if their demands were met. It is understood they are holding out for £60m.
Arsene Wenger said on Friday that Giroud would not leave unless another player came in.
"Arsenal have made several attempts so far [to sign Aubameyang] and they have all been rejected," Zorc told Sky in Germany on Saturday.
"Either our demands are fulfilled, then there can be another transfer, or they will not be fulfilled and Aubameyang will play in Dortmund until the summer."
Aubameyang was booed by a section of Dortmund fans at the Westfalenstadion during their 2-2 draw with Freiburg on Saturday and a banner in the crowd read: 'No player is bigger than our club'.