Arsenal will no longer have the chance of signing Houssem Aouar this summer.
Lyon have made final decisions on the future of Houssem Aouar and Memphis Depay and the pair will not be leaving before the October 5 deadline.
Arsenal saw their opening offer of £32million turned down by Lyon, who were looking for closer to the £40m mark.
Lyon president Jean-Michel Aulas made it clear that Arsenal had until Friday to get any potential deal over the line.
Now the club are being true to their word and have confirmed to RMC Sport, that both Aouar and Depay will be staying at Lyon until at least January.
It’s a cruel blow for Mikel Arteta, who will now miss out on his top transfer target.