Arsenal will not return with an improved offer for Lyon striker Alexandre Lacazette, according to Lyon president Jean-Michel Aulas.
The French side claimed on Tuesday that Arsenal hade made a £29.3m bid for their star striker, who has scored 48 Ligue 1 goals over the last two seasons and was the subject of interest from West Ham earlier this summer.
Following Arsenal's 2-1 pre-season friendly win over the MLS All-Stars in San Jose on Thursday night, boss Arsene Wenger admitted he is on the lookout for one more attacking option.
But Aulas' comments suggest he thinks Wenger's interest lies elsewhere, despite reports suggesting Arsenal are preparing an improved offer for Lacazette.
"Arsenal have not come back and will not come back," Aulas said.
"No-one will leave Lyon."
Arsenal have signed three players so far in this transfer window - striker Tasumo Akano, midfielder Granit Xhaka and central defender Rob Holding.
Holding played the full 90 minutes against the MLS All-Stars, with senior trio Per Mertesacker, Laurent Koscielny and Gabriel all currently sidelined through injury.