Lyon tried to re-sign Arsenal striker Alexander Lacazette during the transfer window.
They are now expected to go back for him in the summer when he will be a free agent.
The French international joined the Gunners in 2017 from the Ligue 1 side for a fee of around £50 million, and has since gone on to make 152 appearances for them, scoring 70 times.
He is now in the final months of his current contract and there has been no suggestion that he will be offered an extension at the Emirates.
However, despite his contractual situation, Arsenal were not in a position to let him leave in January, especially as Pierre-Emerick Aubameyang has now had his contract terminated.
With the only other recognised striker at the club, Eddie Nketiah, also in the final months of his contract, that would have left them seriously exposed in a critical area of the pitch where there are already serious questions about squad depth.
Andy is an exiled English football fan living in Cyprus. He loves all sports but football is his abiding passion, and he still has dreams every now and then about scoring the winning goal in a Wembley Cup Final, even though his playing days are long gone. He follows most major leagues, across Europe at least, and has a favoured team in each. When he’s not watching, listening, reading or downloading podcasts about football, he spend his time worrying about his beloved Arsenal.