The Gunners chased the high-profile midfielder for the better part of the summer but it now seems they will be unable to land their target.
Arteta’s board had sent out two bids worth around £35 million and £38 million for the midfielder but both were turned down by the French club.
Lyon estimated their 22 year old French international’s value at around £50 million or more. The club president of Lyon was very clear about his demands from the very beginning.
However, it did seem a little too much for Arsenal to pay considering the fact that Aouar only has one year left his contract.
The move was expected to go down to the wire with both sides downplaying their expectations and reach a mutual understanding for the player’s transfer fees.
However, that has been put to rest by Aulas, who has declared that Aouar will not be leaving the club this window, effectively ending Arsenal’s pursuit of the player.
It now remains to be seen if the Gunners come back with a bigger bid despite the claim or turn their attention to another player with less than 24 hours to go.
See More: Arsenal Players Wages 2020 (Salaries Per Week List)