​Lyon have denied reports from Le Progrès on Tuesday morning that they have received a bid of €48m from Arsenal for in-demand forward Alexandre Lacazette, but have confirmed that they turned down an offer of €35m from the North London club.

The Gunners have been linked with the French forward for a number of weeks now, with their interest only expected to increase now that Gonzalo Higuain looks set on a move to Juventus rather than to the Emirates.
A statement released on Lyon's website read: "Olympique Lyonnais categorically denies having received a €48m offer from Arsenal for the transfer of Alexandre Lacazette as Le Progrès stated in its issue this morning.

"The club regrets once again that the progress has not bothered to contact them before publishing the false information which creates confusion on the day the Group publishes its annual turnover of €218.1 million, up 111% compared to 2014/2015, on the stock exchange. 


"The reality is that the club Arsenal made an offer of €35m which Olympique Lyonnais did not respond for one reason only: OL keep Alexandre Lacazette, who is irreplaceable and is a major leaders of the group of Bruno Genesio."
L'Equipe reported last week that Lacazette is set to leave the Ligue 1 club after telling the club's officials that he no longer sees a future at the Parc Olympique Lyonnais. With the club's star striker requesting a transfer, it is believed that should a satisfactory offer be received then Lacazette will be allowed to depart the club.

It appears that €35m won't cut it.