The Gunners are pursuing a move for Borussia Dortmund star Pierre-Emerick Aubameyang, who made the journey to the English capital on Tuesday to finalise a transfer.
The off-season arrival of Alexandre Lacazette has further limited Giroud’s opportunities at the Emirates Stadium, with the 31-year-old having managed just one Premier League start this term, along with 14 appearances off the bench.
The Premier League champions had targeted Roma hitman Edin Dzeko after losing out to Manchester United in the race to sign Alexis Sanchez, but they were met with more disappointment.
An interesting twist could see Michy Batshuayi loaned to Dortmund, who are seeking a replacement for Aubameyang, with Blues boss Antonio Conte having expressed uncertainty about the Belgian’s future on Sunday.
Giroud was included in Arsene Wenger’s matchday squad for the trip to Swansea on Tuesday, although he was named amongst the substitutes.