Fofana is one of the more exciting young Belgian wingers in Europe and Lyon were willing to sell him to Arsenal this summer for a fee of around €40M.
The Belgian international is known for his explosive acceleration, progressive carrying and chance creation which the Gunners were said to be interested in following the sales of Gabriel Jesus and Gabriel Martinelli.
Now, The Athletic report that Lyon offered Arsenal the chance to snap up the 21 year old as Sporting director Andrea Berta spoke with Fofana’s agency Roc Nation Sports over a possible deal.
The report states Arsenal were only prepared to offer a loan as the North London side were in danger of encroaching on UEFA’s spending limits.
It was then revealed that Arteta had concerns over Fofana’s ability to handle the physicality of the Premier League, which is known to be the most demanding league in Europe.
The deal fell through and now Fofana has joined Premier League rivals Sunderland as they beat out Crystal Palace to the youngster's signature.
Arsenal have added left-sided attacker Christos Tzolis to their attack after selling Leandro Trossard to Besiktas earlier in the window. Fofana would be a player for the future, but Arsenal have now missed their chance to make their move as they keep an eye on the winger.