Clement Grenier
Clement Grenier says he doesn't regret turning down Arsenal.

Clement Grenier insists he's happy with his decision to turn down Arsenal and sign a contract extension with Lyon despite the Ligue 1 side being ousted from the Champions League in the play-offs.

Grenier was a confirmed target for the Gunners in the summer with Arsene Wenger claiming the 22 year old reminded him of Samir Nasri.

Talks with Lyon about extending his deal beyond 2014 reached a positive outcome though and as a result he is now contracted to the club until 2016.

Results may have made the attacking midfielder regret his decision with Arsenal flying in both the Champions League and the Premier League while Lyon are currently eighth in the Ligue 1 table and facing a season of Europa League football after losing their play-off tie to Real Sociedad.

But the France international, who admitted that game time in preparation for the World Cup came into his thinking over the summer, insists he has no regrets about turning down Arsenal.

"I don't have any regrets about extending my contract, quite the contrary," he said, according to ESPN. "I'm still learning. We've had some difficult moments, particularly the Champions League exit, but that's part and parcel of a career.

"I hope that we're going to have a good season. The Europa League is an important competition for us all the same."

After Arsenal failed in their pursuit of Grenier, Wenger eventually added Mesut Ozil to the midfield on deadline day and the signing has certainly turned out to be a favourite with fans as well as a top performer on the pitch.

But Grenier could still be on the manager's radar and although he insists publicly that he is happy to play in the Europa League this season he may find it more appealing to go to the north London side if they are able to challenge for trophies domestically.

Lyon face an uphill battle with big spenders Paris Saint German and Monaco setting up camp at the top of Ligue 1.