Chamakh, whose contract with the Ligue 1 side expires in the summer, is currently free to talk to would-be suitors with a view to sign a permanent deal in the summer, and the contract he has agreed with the Gunners is reported to span five years.
Arsenal manager Arsene Wenger has been linked with the Morocco international since the £25 million departure of Manchester City-bound targetman Emmanuel Adebayor last summer, but refused to bow to the fee demanded by Bordeaux.
The north Londoners, meanwhile, have their own superstar whose deal runs out at the end of the season.
The Mirror claim that William Gallas is demanding a two-year extension, but an offer of the sort would contradict Wenger's policy about negotiating terms with his 30+ year old players.
Gallas, 32, it is claimed, will only be offered a one-year deal. Chairman Peter Hill-Wood recently confirmed: "He [Wenger] has not asked us to make an exception for Gallas."
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