The Gunners forward is out of favour at the Emirates after being stripped of the captaincy and no longer making matchday squads.
Arsenal are keen to move him out this window and one possibility appeared to be Al Nassr who were interested in bringing the player in on loan.
The Saudi Arabian club subsequently made an offer for the striker but were rebuffed by Aubameyang himself.
Al Nassr did not lose heart though and were still hoping to lure him to Saudi Arabia but now the game is up.
The Saudi Arabian club have given up on Aubameyang and will not be chasing him any further this window.
The striker leaving this window is still a possibility though as Juventus and Barcelona are both keen on him.
Aubameyang himself is pushing for the move to Barcelona to happen but the La Liga club still have to untangle themselves from their current situation to bring in the striker.
