The 31-year-old forward will leave the Emirates this summer after agreeing to return to his former club Olympique Lyonnais on a free transfer.
He joined the Gunners back in 2017 for around £47m during Wenger’s final season in charge at the Emirates.
The Frenchman scored 17 goals in his debut campaign and went on to play 206 games for the North London side in the last five years bagging 71 goals and 36 assists.
Arsenal are prioritising the renewal of young forward Eddie Nketiah who has also entered the final month of his contract.
Due to a lack of goals in the last few months, Lacazette lost his place to Nketiah who was influential to Arteta’s side.
According to reports, Lacazette has finally accepted the move to his former club despite Lyon’s lack of European football.
“If we need to make compromises to get him, we will,” Lyon president Jean-Michel Aulas said, with director of football Vincent Ponsot adding: “We will continue until the end, it’s a desire for us [to bring Lacazette back].”
See More: Top 5 Players Who Rejected Arsenal