Arsenal target Lacazette will not leave Lyon this summer

French striker Alexandre Lacazette, who is a transfer target of Arsenal, will not be leaving Lyon this summer, according to reports in France.

Le Progres is reporting that a source close to the player has informed them that Lacazette will remain with Lyon for next season, as the French club look to close the gap on Ligue 1 Champions Paris Saint Germain, as well as making their mark in the Champions League.

Lacazette enjoyed a breakthrough campaign during the 2014-15 season in which he scored 31 goals for l'OL, which the 25-year-old then followed up with 23 goals last season.

Lyon recently confirmed that the player was the subject of a €35 million bid from Arsenal which was immediately rejected, while a €40 million offer from West Ham United was also rebuffed earlier in the transfer window.

Arsenal are known to be on the lookout for a striker having been knocked back in their attempt to sign Jamie Vardy from Leicester City this summer. The Gunners activated the £20 million release clause in the 29-year-old's contract, however, after some deliberation, the England star elected to remain with the Premier League champions.

Arsene Wenger's men were also credited with an interest in Gonzalo Higuaín, and reportedly tabled a cash plus Olivier Giroud bid to the value of €70 million, before the Argentinian signed for Juventus in a €90 million deal last month.