Lyon president Jean-Michel Aulas dealt Arsenal a blow in their bid to sign Alexandre Lacazette by insisting he would rather sell to Paris Saint-Germain than the north London club.
"I am a businessman and a modern club president. Transfer money must be reinvested into French football, as I always did when we were at the peak of our powers," Aulas told France Football, per the Mirror.
"I know Nasser Al-Khelaifi told Noel Le Graet [French Football Federation president] that he is not investing that much in French players because he thought other presidents looked badly upon it.
"I want him to know that if he makes an offer for Alexandre at least equal to that of the other clubs bidding for him, then Alex can go to Paris without problem.”
Arsene Wenger’s attempts to sign a striker depend largely on what happens to Alexis Sanchez.
The Chilean - Arsenal’s primary goalscorer for the past three seasons - has been heavily linked with a move away from the Emirates Stadium this summer, with Manchester City and Bayern Munich interested.
Lacazette is backup option for Mbappe
A £87 million bid for Monaco star Kylian Mbappe has been rejected, and Real Madrid’s impending £120m offer leaves Arsenal’s chances of landing the 18-year-old very slim.
Lacazette is their backup option, with Lyon demanding a hefty £60m for the 26-year-old.
There’s is some debate among Arsenal supporters about whether Lacazette is needed when Olivier Giroud is already at the club.
But Giroud, who started just 11 league games last season, could be on the verge of a surprising Arsenal exit.
Arsenal willing to sell Giroud on one condition
According to the Evening Standard, West Ham United are preparing a move for the Frenchman, with Slaven Bilic prioritising a striker in the summer window.
And Arsenal are willing to allow Giroud to leave - provided they first sign a replacement.
The Gunners want around £20m for Giroud but Arsenal would have to be willing to find a club willing to pay his £100,000-per-week wage demands.
Bilic is after additional firepower following Andy Carroll and Diafra Sakho’s injury-ravaged seasons.
The West Ham boss desires more pace up front - something that Giroud won’t provide - but he believes the arrival of the Arsenal forward would be a statement of intent.