Arsenal transfer blow: Striker in advanced negotiations with Atletico Madrid , Alexandre Lacazette has long been a target for Arsenal boss Arsene Wenger.
The Gunners made a failed attempt to sign the striker last summer but were knocked back by Lyon.
And now it seems their hopes of bringing in the France international are over amid reports he has agreed terms with Atletico Madrid.
French outlet RMC Sport claims Lacazette has settled on a move to the Vicente Calderon this summer.
And Lyon and Atletico are said to be in advanced transfer negotiations for the 25-year-old.
The La Liga giants have reportedly made the striker their priority summer signing as they think he will fit seamlessly into their squad.
Lacazette's decision to snub Arsenal is perhaps not surprising after he claimed this week his future club would have to offer Champions League football.