The Bundesliga club are already preparing for the 23-year-old’s potential exit.
Frankfurt want £30 million for Lindstrom as his contract does not end until 2026.
The club’s sports director Markus Krosche is already eyeing possible replacements for the Denmark international.
VfL Wolfsburg’s Omar Marmoush is expected to join Frankfurt for free and cashing in on Lindstrom will also come in handy.
The Dane could be open to a new challenge having moved to Germany from Danish Superliga club Brondby in 2021.
Arsenal will be attractive to players in the summer even if they fail to win the title.
The Premier League leaders need to bolster their ranks ahead of next season in preparations for Champions League football.
Lindstrom fits the bill given his versatility and attacking quality.
He plays on both wings and behind the striker, with eight goals and two assists to his name this term.
The attacker has bagged 14 goals and 13 assists in 70 appearances, and he is unlikely to struggle in England.
Brentford could pip Arsenal to the table given the Danish contingency in the squad.
The Bees have six Danes in their team, and linking up with them could appeal to Lindstrom.
Brentford could also be playing European football next term as they are currently eighth in the table.
They could seal qualification for Europa Conference League and will need more quality players to give them solid squad depth.
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