Alexis Sanchez remains an Arsenal player following the closure of the transfer window, his move to Manchester City failing to materialise.
A conditional agreement was said to have been reached between City and Arsenal for the Chilean, 28, to move to Etihad Stadium for a fee of £55m, plus £5m add-ons, but it was reliant on Arsenal replacing him.
Arsene Wenger's key target, on a day when Alex Oxlade-Chamberlain left for Liverpool, was Monaco winger Thomas Lemar, who is thought to have decided against a move to north London.
Arsenal had offered the Ligue 1 club a fee in the region of £90m for Lemar.
That meant Sanchez was left in limbo, in spite of reports earlier in the day that the former Barcelona winger had told friends and family he was leaving for Manchester City.
Sanchez is now into the final year of his contract and is likely to leave on a free transfer next summer.
Lucas Perez meanwhile did leave Arsenal on Thursday, returning to former club Deportivo La Coruna on loan after scoring seven goals in 21 games for the Gunners having signed for in excess of £17m last summer.
Arsenal also turned down a £20m offer from Leicester City for central defender Calum Chambers on what was, eventually, a day of mixed emotions for the Gunners.
Arsenal are 25/1 to win the Premier League this season, while Manchester City are 7/5 and early season pace-setters Manchester United are 9/4.
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