Lyon have rejected an offer of €35 million (£29.5m) from Arsenal for Alexander Lacazaette, the club confirmed on Tuesday.
The France striker, who has been described as “irreplaceable” by the Ligue 1 outfit, has been on the Gunners’ radar this summer after an impressive season last term where he scored 21 league goals.
Reports in France said Arsenal had made a bid of around €48m (£40.1m) – a claim which Lyon denied in a statement on twitter.
“Lyon categorically deny having received an offer of €48m from Arsenal for Alexandre Lacazette like Le Progres reported in this morning’s edition,” the statement said.
“The club regrets Le Progres’ decision not to contact the club before publishing this false information, which causes confusion on the day OL publishes its annual financial figures.
“The reality is that Arsenal made an offer of €35m, which Lyon did not follow up on for one reason: OL will keep Lacazette who is irreplaceable and who is one of the main leaders in Bruno Genesio’s squad.”
It’s not clear whether Arsenal will return with a higher offer or move on to another target in the transfer market. Arsene Wenger is hopeful of bringing another striker in as competition for Olivier Giroud.