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Arsenal pulled the plug on a deal for Lemar earlier today.
The Gunners were quoted £90m by Monaco for the France star.
Starsport understands they were willing to pay that eye-watering price, but didn’t follow through with the purchase after Manchester City failed to stump £70m for Alexis Sanchez.
Arsenal were prepared to sell Sanchez and replace him with Lemar – but City wouldn’t match their valuation for the Chilean star.
BBC reporter David Ornstein has revealed Lemar told the north London club he was up for a move.
Speaking on Radio Five Live, he said: “Perhaps it’s quite confusing to a player who was being chased by Arsenal in the summer and it’s our understanding that he did say he would join Arsenal.
“He was prepared to make the move.
“But when that interest ended, it was almost like it was put to bed.