Arsenal have been in search of a top quality striker this summer and French international Alexandre Lacazette was a top target.
The Les Bleus star had a brilliant last campaign with Ligue 1 side Olympique Lyon. Alex Lacazette scored 31 goals in 40 appearances last season and that is why he has attracted interest from the top European clubs this summer.
However, the 24-year-old star striker has ended speculation by signing a one year extension with Lyon.
Not signing Alexandre Lacazette can be a massive blow for Arsenal but the fans will not mind if somehow the Gunners can lure Karim Benzema from Real Madrid.
Former Liverpool star Stan Collymore has stated that Arsenal cannot win the title with the likes of Giroud, Welbeck and Walcott, and must sign the Los Blancos star to complete the squad.
The North Londoners will kick start their new Premier League campaign tomorrow against West Ham United.