Contact was initiated between the two clubs through his agent but the move eventually failed to come to fruition.
Aubameyang has a year left on his current deal and is yet to commit his future to Arsenal.
Despite sounding out Chelsea earlier this season, the 31-year-old did not cross the London divide and make a move, as his wage exorbitant wage demands proved to be a stumbling block for the Blues.
Wage demands scuppered Arsenal star's unlikely Chelsea switch
The Gabonese star was reportedly vying a contract that would have made him the highest-paid player in Chelsea's illustrious history due to which he failed to complete the unlikely transfer.
Since moving to Arsenal in January 2018, Aubameyang has been one of the most reliable goalscorers in the Premier League. However, Arsenal are yet to match his ambitions and have not been in contention for any of the major trophies on offer since his arrival.
The report also suggests that Barcelona and AC Milan are keeping close tabs on the striker, who has entered the final year of his contract. Arsenal are working hard to extend his deal at the club and are reportedly confident that he will put pen to paper on a long term deal at the club.
Chelsea's unsuccessful pursuit of Aubameyang meant they moved swiftly to complete a deal for RB Leipzig striker Timo Werner. The German international was also a top target for Liverpool but the Reds baulked at his €53 million release clause and did not make a move for him.
The Blues have also added Hakim Ziyech to their squad and are in active negotiations to complete the signing of Bayer Leverkusen star Kai Havertz.
Arsenal, on the other hand, are not expected to spend freely due to the financial impact of the coronavirus pandemic.
The Gunners are preparing to part ways with the likes of Ainsley Maitland-Niles and Matteo Guendouzi to raise money for potential incomings, as Mikel Arteta looks to oversee an important transfer window at the Emirates Stadium.
Arsenal and Chelsea are set to lock horns in the FA Cup final later today and it remains to be seen which one of these two great London rivals get their hands on the prized trophy.
Published 01 Aug 2020, 11:01 IST