According to the Daily Mirror, the French giants are willing to exceed the £89m fee Manchester United paid for Paul Pogba to steal a march on their rivals in the race to recruit Ligue 1 victor Mbappe.
Arguably, Martial could be a good reason why Mbappe should remain where he is.
Wenger is desperate to bring Mbappe to the Emirates and according to French paper L'Equipe, they say the manager tried to explain to his compatriot how he would fit in at Arsenal.
PSG are offering the most money.
The 18-year-old is the hottest property in all of Europe and as such his future is the subject of much speculation.
The source acknowledged that Mbappe has already indicated to potential suitors - including PSG - that he would be happy to spend next season at Monaco ahead of the 2018 FIFA World Cup in Russian Federation.
PSG sporting director Antero Henrique is convinced Mbappe is the best fit for PSG, so he placed the youngster at the top of the transfer targets.
Martial would be a very decent alternative, but it remains to be seen whether or not United would be willing to talk with rivals Arsenal. A deal for Real Madrid striker Alvaro Morata is also said to be in negotiation.
Martial endured a hard first season under Mourinho and was publicly criticised by the United manager. It's believed that a fee of £50m has been agreed and personal terms are now being discussed between Lacazette and the Gunners.