As expected, the French international has not agreed a contract extension and will therefore depart north London when his current deal expires on June 30.
Lacazette leaves Arsenal after a productive five-year stint in which he netted 71 goals in 206 appearances across all competitions, winning the FA Cup and Community Shield while also wearing the captain’s armband this season.
The 31-year-old now looks set to return to former club Lyon, where he notched 129 times before a then club-record £46.5million switch to English football in the summer of 2017.
Lyon president Jean-Michel Aulas and general manager Vincent Ponsot have made little secret of their desire to see Lacazette return, with reports suggesting that the deal has already been verbally agreed.
Explaining his exit in an interview with Arsenal’s official website, Lacazette said: “With the club we decided to go apart. The club is taking a new direction and we are at the end of my contract as well. Now it is time for me to have a new experience, a new adventure.”
Lacazette had nothing but kind words for the Gunners and the relationships formed during his time at the club, insisting he will remain a fan and return to the Emirates in future.
“I want to keep all the good moments I had in the club, because for me it was just a pleasure to play for a club that, since I was young, I dreamt of,” he said.
“I’m really happy to have played for five years for Arsenal. I’ll keep in contact with my team-mates, with the coaches, with the club.
“I supported Arsenal since I was young, so obviously I’m going to keep supporting them. I know I will come back to the stadium as well.”