Having been ready to go all out on Vlahovic, Osimhen is likely to command a similar fee.
Arsenal is in the middle of a dramatic stand-off with former captain Pierre-Emerick Aubameyang.
The Gabonese international is facing further Arsenal humiliation after being dropped from the mid-season training camp in Dubai, with former midfielder Jack Wilshire reportedly training in Dubai.
With main target Dusan Vlahovic already a Juventus player, The Gunners are reportedly turning to Napoli star Victor Osimhen as an alternative for a new striker.
Osimhen joined Napoli from French club Lille back in 2020 for £66m. The 23-year-old striker was not part of the Super Eagles side at the Africa Cup of Nations (AFCON) and was missed upfront as Augustine Eguavoen's men struggled to finish.
Osimhen has recently overcome a cheekbone fracture and a positive Covid test to return to action for Napoli but has only featured off the bench in the New Year.
He has been in decent form this season, scoring nine goals despite facing a few injury problems.
The Gunners face stiff competition from Newcastle, who are rumoured to be interested in the 23-year-old.