Lyon president Jean-Michel Aulas has confirmed talks have been held for Lacazette at a media conference introducing the signing of Mariano Diaz from Real Madrid, but said no deal has been reached.
This clears the way for Arsenal to pursue a deal, but Lyon have shown no signs of a willingness to accept a bid below around £50million.
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But the state's highest civil court reversed course in January after receiving an outpouring of letters opposing the decision. Advocates are likely to push for the case to be appealed to federal courts.
It is believed Lacazette wants to leave Lyon and was set on a move to Atletico Madrid until the Spanish club's transfer ban was upheld, preventing a move until January at the earliest.
Aulas told Canal Plus: "I do not think that Alexandre Lacazette will leave this summer".
Gunners boss Arsene Wenger is a long-time admirer of the French global, who scored 37 goals in all competitions during the last campaign.
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He was also quoted in the weekend press as promising to resist "back door funding" for Northern Ireland. Talks will continue today today to try to re-establish a power-sharing executive in the North.
The Gunners have been linked to the likes of Alvaro Morata and Kylian Mbappe, with strengthening of their strikeforce required, along with the questions surrounding the futures of Alexis Sanchez and Olivier Giroud.
The options? "It'll either be a France global or a player from a very big European club".
In an article published on the BBC Sport website, Ornstein claims that Arsenal remain in negotiations with Lyon about the possibility of signing 26-year-old forward Lacazette this summer. "We're interested. Things haven't advanced".
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Wityh a modest $38 million budget, it should be able to eke out a profit on a likely $75 million final domestic gross. Paramount has already suffered flops at the box office this year with " Ghost in the Shell " and " Baywatch ".