Riyad Mahrez's agent did not meet Arsene Wenger in Lens ahead of a €50 million (£41.8m) transfer, Goal understands.
Mahrez has been heavily linked with a move away from Leicester City this summer after a title-winning season in which himself, Jamie Vardy and Chelsea new-boy N'Golo Kante played a significant part.
While a concrete offer from Arsenal was not enough to persuade Vardy to leave the King Power Stadium earlier in the summer, Mahrez has been touted as the missing piece in the Gunners' front three alongside Mesut Ozil and Alexis Sanchez.
According to a report on Saturday, the 25-year-old's agent met with Gunners boss Wenger after Lens' 1-1 draw with Arsenal to discuss a potential transfer.
However, Goal understands that the representative of the PFA Player of the Year attended the pre-season friendly at Stade Bollaert-Delelis to watch his client Jean-Ricner Bellegarde, 18, in action against Arsenal.
Leicester boss Claudio Raineri had told Sky Sports earlier in the week: "It's over, the market is over here, Mahrez wants to stay."
Mahrez will be involved in the Foxes' friendly match at Celtic on Saturday afternoon.
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