Lucas Torreira bid an emotional farewell to Fiorentina after confirming that he would not be switching to the Serie A side on a permanent deal.
Torreira reignited his career on loan with Fiorentina after falling out of favour under Mikel Arteta at the Emirates and helping them qualify for the Europa Conference League qualifiers.
The Uruguayan - who has 12 months remaining on his Gunners deal - had reportedly agreed to personal terms, before the transfer collapsed over the previously agreed-upon fee.
It is still possible that Torreira will move on from the Emirates this summer, but the destination will no longer be Fiorentina.
"Dear Fiorentina fans, unfortunately, the time has come to say goodbye. It is with great sadness that my bond with Fiorentina is ended. A club that gave me so much love and support for all this time," Torreira wrote on Instagram.
"From the start, you made me feel at home. I discovered a marvellous city that was always kind to me, both on and off the field. Thanks to your trust, I was able to rediscover the consistency and form I wanted.
"I owe that to my teammates and all the fans who gave me energy game after game. I want you to know that I always gave everything on the pitch for these colours. A special thank you to the staff of the club: chefs, managers, physiotherapists, managers and security.
"I want you to know that I did my very best to continue being part of this club, but unfortunately some – acting in my view in a negative fashion – managed to prevent that from happening, so this is why I must leave.
"I wish you all the best for the future. You will have another fan applauding from wherever it is I will go. Forza Viola, Lucas Torreira."
Torreira scored five goals and provided two assists in 31 Serie A games for seventh-placed Fiorentina and was expected to complete a permanent move to the Italian side this summer.