According to Goal, Lyon have rejected a £8.5m bid from Everton for Arsenal target Rachid Ghezzal. However, the Gunners are not prepared to make a move until January.
The 24-year old is into his final year in his contract with Lyon and is available for a cut-price deal. However, Lyon wants €15M for the young winger.
The player had one of the best seasons in his career as he finished with eight goals and eight assists in 29 Ligue 1 appearances for Lyon last season.
The form meant he has attracted the interest from West Ham and Everton apart from long admirers Arsenal. The Algerian international was demoted to the reserve squad after the club rejected the bid.
The player can play on either wing and also as in a central role which makes him a versatile attacking forward. However, the club is not willing to let the player leave this summer.
Meanwhile, Arsenal are keen to sign the winger but only on a Bosman deal next January as he will be able to sign a pre-contract.
However, the French-born Algerian international is keen to stay with the club if they offer him the contract of he magnitude that he would like. Several Spanish clubs are also reportedly monitoring the developments happening around the player.