Arsenal will reportedly spend £80 million on 2 major signings this week

Riyad Mahrez.Michael Regan / Getty Images

Arsenal is reportedly on the cusp of announcing two major transfers this week.

The Gunners look set to spend £80 million ($104 million) on Leicester City attacking midfielder Riyad Mahrez and Olympique Lyonnais striker Alexandre Lacazette.

Italian publication Calcio Mercato said the Mahrez “transfer will soon be announced.” British tabloid The Sun said Arsenal will pay £35 million for the France-born Algeria international.

Lacazette, meanwhile, could cost between €45 million and €50 million (£39.5 million and £44 million).

The Lyon goalscorer has been monitored by Arsenal manager Arsène Wenger for a number of seasons and it appears he may finally succeed in signing the 26-year-old.

Lyon president Jean-Michel Aulas told Le Progress that Arsenal could complete the Lacazette deal in “one or two days.”

Alexandre Lacazette.Paolo Bruno / Getty Images

He said: “[If the transfer fee is] close to €50 million [it would be] unique and probably a record for Arsenal and Lyon. We will probably reach a new record. It is not a small transfer.”

Signing Mahrez and Lacazette would significantly bolster Arsenal’s firepower.

Mahrez played a key role in Leicester’s title-winning season. He scored or created 28 goals in 36 Premier League starts in the 2015-2016 campaign.

Lacazette, meanwhile, has been one of the most consistent strikers in French football over the past four years. He has netted 113 goals in 183 games.

Mahrez and Lacazette would be Arsenal’s second and third signings of the summer after the North London club recruited former Schalke 04 left back Sead Kolašinac on a free transfer in June.