Lyon midfielder Clement Grenier has rejected Arsenal’s advances to sign a new three-year deal with the Ligue 1 club.
The 22-year-old had been linked with a move to the Premier League side, who are looking to add reinforcements to their squad and mount a title challenge next season.
But the Ligue 1 side announced he will stay at the club until 2016 at a press conference on Thursday and the 22-year-old is delighted to continue his footballing education at the Stade de Gerland.
“My progress is not over,” Grenier said. “I have had a good six months but I still have a lot to learn.”
Manager Remi Garde was delighted to tie the France international to a new deal, adding: “I am very happy to continue working with Clement Grenier.
“Hopefully we can help him progress further.”
Meanwhile, new loan signing Miguel Lopes spoke of his excitement at joining the club but admitted it was a difficult decision to leave Sporting Lisbon.
“I am proud to come to this club that has a good track record. I promise to give my all for Lyon,” he continued.
“Sporting Club is in my heart, but my choice is to come to Lyon and (I think it) is a good choice.”
Club chairman Jean-Michel Aulas also confirmed that a number of high-profile players are likely to leave the club ahead of the new season.
France international trio Bafetimbi Gomis, Jimmy Briand and Yoann Gourcuff have all been linked with departures in the close season and Aulas is welcoming offers for all three.
He confirmed: “Bafe and Jimmy Briand are awaiting departure. For Yoann Gourcuff, we are looking for opportunities.”