The Gunners have secured permanent deals for Willian, Pablo Mari and Cedric Soares so far this summer but Arteta is keen to bolster his squad further before the window shuts in October.
Arsenal only finished eighth last season – ten points adrift of the top-four – and Arteta is hoping to see two or three more players arrive through the doors at the Emirates.
But with Arsenal’s transfer budget affected by the coronavirus pandemic, Arteta may be forced to sell before he buys and Parlous says Lacazette could make way.
He told talkSPORT: ‘Lacazette will be the one, the asset. You look at the assets they’ve got, there isn’t many really.
‘They’ve got Aubameyang, but with him you’re not going to get as much as you’d like because, currently, he’s only got a year left on his contract.
‘Probably the asset will be Lacazette. I know Juventus were interested in maybe buying him.