Lyon have rejected a big of £31.2m plus an unnamed player from Arsenal for midfielder Houssem Aouar, according to reports in France.
However, Lyon have turned down the bid, according to RMC Sport, valuing Aouar at around £45m after a third successive impressive season in the first team.
Lyon reached the semi-finals of the Champions League last season, with the Frenchman scoring nine goals in 41 games across all competitions.
His form has attracted the attention of big clubs across Europe, including the Premier League, although it is believed that he prefers a switch to Juventus over one to London or Manchester.
Arsenal are very reluctant to meet the £45m valuation of the midfielder with the budget tight and having already spent £27m on Gabriel Magalhaes and a significant outlay on Willian’s wages, despite him arriving on a free transfer from Chelsea.
Mikel Arteta is looking to sell a number of…