Clement Grenier
Grenier will remain with Lyon next season, according to player's father. (Reuters)

Arsenal may be left disappointed in their pursuit of Lyon's Clement Grenier this summer, according to the midfielder's father.

The Gunners have been heavily linked with a move for the 22-year-old in recent months after Arsene Wenger singled the Frenchman out for particularly high praise, indicating the club were tracking his rapid progress in Ligue 1.

Grenier has also entered the last year of his contract at the Stade Gerland, prompting speculation that Lyon may cash in on the highly rated midfielder in the coming months.

Lyon's struggles to address their growing financial concerns have also suggested Grenier's exit may loom, but the midfielder's father has echoed the sentiments of Lyon's president Jean-Michel Aulas in stating the player will remain with the Ligue 1 club next season.

"I think Clement will be at Lyon next season," his father Michel told TF1, ESPN report.

In a rather unusual move by his standards, Wenger made a particular effort to pick out the playmaker as someone who has attracted particular interest from Arsenal.

"We are following him, I like the intelligence of his play," Wenger told Telefoot. "He has interesting qualities, if anyone, he reminds me of Samir Nasri."

Grenier, who has also been linked with a move to Liverpool, has steadily risen through both Lyon and France's ranks over the years, and is now at a stage where he holds a key role in Les Gones' starting XI.

Having represented his nation at every level since under-16, he was rewarded with his debut for the senior side last week against Uruguay, following that up with a substitute appearance against Brazil on Sunday evening.

Perhaps the most sought after individual in the Lyon ranks, it had appeared he was ready to leave the club this summer. But despite his dwindling contract and growing interest from the Premier League, Aulas remains confident of holding onto the young star.

The Lyon chairman has been particularly prudent when it has come to fetching extravagant fees for the club's most coveted players in the past, should holding onto them become impossible.

His much criticised, but effective methods of negotiating have seen Lyon rake in princely sums for the likes of Michael Essien, Mahamadou Diarra, Karim Benzema and Florent Malouda in the past ten years, suggesting Arsenal may need to prepare an extravagant bid of their own to sign Grenier.

But according to Gunners chief executive Ivan Gazidis, the club are now ready to cast off their financial shackles and compete with Europe's elite in the transfer market this summer.

"We have a certain amount of money which we have held in reserve," Gazidis told the BBC last week.

"This year we are beginning to see something we have been planning for some time - the escalation of our financial firepower.

"That is going to happen partly into next season, it is part way available now in the summer, but the following season as well.

"It is a progression over the next two seasons and is quite significant for the club."