Arsenal's Lemar bid is now off and Sanchez will stay(Sky Sports)

BREAKING: Thomas Lemar's proposed £92m move from Monaco to Arsenal is now off, meaning Alexis Sanchez will remain at the Emirates, Sky Sports News understands. 

Arsenal have been interested in Thomas Lemar throughout the summer and made their latest bid today despite the price going up significantly compared to what they thought would secure the transfer earlier in the window.

The offer of just over £92million was accepted by Monaco. However, Lemar expressed concerns that he hadn't had enough time to consider such a big move. 

There was also the issue of logistics because Lemar started France's World Cup qualifier against Holland in Paris this evening, making the possibility of a medical and discussion of personal terms very difficult.

Arsenal are delighted, however, that Alexis Sanchez is staying at the club.

Arsenal's position was always that they would only sell the Chilean IF they could sign a high-calibre replacement.

They say they are pleased with their summer business, while the fact they have walked away from accepting £60m for a player who could walk away from the Emirates next summer for free underlines how determined they are to mount a title challenge this season.