Alexandre Lacazette will not be allowed to leave Lyon until the Ligue 1 club sign a replacement, says the club's president Jean-Michel Aulas.
Arsenal are in talks over a deal for Lacazette, who saw a proposed move to Atletico Madrid fall through after the Court of Arbitration for Sport upheld a transfer ban on the Spanish club.
Lyon confirmed the signing of Bertrand Traore from Chelsea for £8.8m on Monday, but Aulas, who also said a deal for Real Madrid striker Mariano Diaz is close to completion, does not see the French youngster as a replacement for Lacazette.
"Today [Monday] our position is that as long as we have not signed his replacement, we will keep him," Aulas said at Traore's unveiling.
"He expressed the wish to leave and he was given an agreement to go to the club of his heart, but things did not happen."
Aulas, who has slapped a £57m price tag on Lacazette, revealed the France international wants to leave the Parc Olympique Lyonnais and will discuss his future in the coming weeks.
And the club's president revealed Lyon, who are interested in Arsenal striker Olivier Giroud, are willing to listen to offers provided the valuation of the player is met.
"He wants to leave," Aulas added. "We will discuss it in the coming weeks.
"If so, offers will be heard, provided they match the value of the player."