Arsenal rejected the opportunity to sign Paris Saint-Germain striker Mauro Icardi during the winter transfer window.
The Gunners were desperate for a new marksman last month, and Dusan Vlahovic was initially the prime transfer target.
However, the Serbian snubbed them to join Juventus. The Gunners ended the transfer window without pursuing a centre-forward.
It is now revealed that the Gunners were offered the chance to land Icardi, but Mikel Arteta turned down the opportunity to sign him.
The Argentine has been a consistent goalgetter over the years, but Arteta did not feel that he would match his tactical philosophy.
Lacazette has been poor in front of goal lately with several missed chances, but it has not cost the club dearly in the form of points.
The Gunners are currently in a strong position to make the top four, and will need the Frenchman firing sooner rather than later.