Nikola Zigic has confirmed to IBTimes UK that Arsenal did approach him during the final days of the transfer window but that negotiations broke down after Arsene Wenger opted to pursue Danny Welbeck.
After Olivier Giroud was ruled out for up to four months due to a broken tibia, Wenger desperately searched the market for someone to lead his attack in the Frenchman's absence.
Radamel Falcao, Alessio Cerci and Carlos Bacca were all said to be among the possible candidates to replace Giroud but Zigic's agent, Milan Calasan, claimed that Wenger had approached him regarding a summer move.
"Wenger called me on Tuesday afternoon and told me that he wants to bring Zigic to Arsenal. It is clear that you cannot reject an offer like that. But Zigic is the one who must decide. He must say what he wants," Zigic's agent then said.
Former Birmingham City forward Zigic has now come clean over the rumours, telling IBTimes UK of the Gunners' interest: "Everything that you saw in the press was true.
"My agent was talking with Arsenal but they finally opted for another player [Welbeck]."
"We talked with them until the last days of the market. I am very happy because Arsenal had me on their list. I would have like it [to join them] But big teams always consider several alternatives [before signing one]."
After leaving Birmingham at the end of his contract last June, Zigic could have joined Arsenal as a free agent but Wenger instead signed Welbeck for £16m from Manchester United.
The Serbian striker is currently considering other options, but has not ruled out a future at the Emirates Stadium.
"I do not rule anything in the future," he added. "I am still looking options. We're talking to several clubs and I think we will make a decision soon."
The 33-year-old striker played a decisive role in keeping Birmingham in the Championship last season, scoring and helping set up Paul Caddis' stoppage time equaliser as the club stage a dramatic comeback to draw 2-2 draw with Bolton Wanderers on the final day of the campaign.