It didn't happen.
The player said he was happy in France; the club told Newcastle to look elsewhere.
Now the Lyon forward has signed a new two-year contract, the club have announced.
The 23-year-old has scored 42 goals in 154 games for the club after coming through their youth system, earning three France caps along the way.
He is now tied to the club until 2018 and told their official website: "It's a great moment.
"It is a sign of confidence from the club. Now, we can stop talking about that."
Club president Jean-Michel Aulas added: "It is a positive and important moment for the club.
"This signature fits with our policy of producing our own players. Alexandre Lacazette carries our hopes with the France team.
"He has handled the discussion about his future in a mature and intelligent way."