Alexandre Lacazette will remain a Lyon player unless the club can sign a direct replacement, says club president Jean-Michel Aulas.
The France international hit a career-best 28 Ligue 1 goals last season and was expected to move to Atletico Madrid before the Court of Arbitration for Sport upheld the Liga side's ban on registering new players in the next transfer window.
Aulas, who has slapped a €65million price tag on the reported Arsenal target, confirmed Lyon will hold talks with the striker to discuss his future.
"Today [Monday] our position is that as long as we have not signed his replacement, we will keep him," Aulas told reporters at a media conference arranged to mark the arrival of Chelsea forward Bertrand Traore.
"He expressed the wish to leave and he was given an agreement to go to the club of his heart, but things did not happen.
"He wants to leave. We will discuss it in the coming weeks. If so, offers will be heard, provided they match the value of the player."
La conférence de presse pour l'arrivée de Bertrand Traoré en direct sur OLTV pic.twitter.com/sGpJ19PIWP— Olympique Lyonnais (@OL) June 26, 2017
Traore has signed a five-year contract at Lyon, who will pay €10million for the versatile forward, with coach Bruno Genesio stating Burkina Faso international will bring something extra to the squad.
"He has qualities of speed, he is able to score and to create goals, he can play up front or on the wings," Genesio said. "He will give us something a little different."
Aulas also confirmed deals for Real Madrid's Mariano Diaz and left-back Ferland Mendy from Le Havre are progressing, while a "high-level central defender" is being pursued.