Lyon rebuffs latest Arsenal attempt for Lacazette despite 'very nice offer'

Lyon president Jean-Michel Aulas confirmed that Arsenal has submitted a bid for Alexandre Lacazette, but it appears that the Premier League side's offer was insufficient.

Arsenal was reportedly notified earlier this week that offers for the 26-year-old forward would not be considered if they don't meet the club's valuation, which is up to €55 million.

"Alexandre Lacazette was told he could leave," Aulas said, as translated by James Dale of Sky Sports. "We had negotiations with Atletico. Things did not work out. We now have a very nice offer from Arsenal. But for us he will not leave."

Lyon was close to selling Lacazette to Atletico Madrid earlier in June until a transfer ban against the Spanish side was upheld in the Court of Arbitration for Sport.

Aulas remains open to selling Lacazette but seems willing to stand firm and wait until an offer meets the club's price.

It's the second summer in which Lacazette has been linked with a move to north London.

However, the English team's reported pursuit this year could be even more difficult considering Lacazette's previously stated his desire to only join a team that can offer him Champions League football. If he stays true to his word, that essentially eliminates the Gunners, who failed to secure a place in next season's tournament.