Arsenal have suffered a major setback in their pursuit of long term target Houssem Aouar. Olympique Lyon have ended negotiations with Arsenal for Aouar according to Fabrizio Romano. The report states that Arsenal weren't willing to pay his price tag of \u20ac50m plus add ons, totalling to \u20ac60m asked by Lyon president Jean-Michael Aulas. Mikel Arteta identified the 22-year-old and made him his priority as he saw him to be a vital player for his team rebuild.\u00a0 But the French midfielder is now set to at his club. It is a huge blow for Arsenal as the deadline day for transfers nears, time is surely not on Arsenal's side. Arsenal are set to miss out on Aouar (Photo by JEAN-CHRISTOPHE VERHAEGEN\/AFP via Getty Images) According to Julien Laurens, Arsenal will opt for Chelsea midfielder Jorginho as an alternative. With time running out Arsenal may be forced to make desperate transfers that won't please fans or won't improve the team. Arsenal have until Monday to sort out transfers with other European teams and must act quick but with precision and prudence. Today's developments have left Arsenal fans in complete outrage and disappointment, fans have expressed their anger towards owner Stan Kroenke.