Michel Bastos took the decision to remain at Lyon after growing tired of waiting on Juventus to put a deal in place.
The Brazilian appeared destined to be on his way to Italy at one stage, with Juve having chased his signature for much of summer.
The Serie A giants were, however, reluctant to meet Lyon's valuation and talks regarding a transfer eventually ground to a halt.
With his future left up in the air, Bastos decided to end the speculation by committing himself to Lyon.
He admits he would have liked to have had the opportunity to take on a new challenge in Italy, but claims he could not wait any longer for an agreement to be reached.
"Juve made two offers to Lyon, which they didn't accept," Bastos told France Football.
"When Lyon officials informed them of the fee they were after for a transfer, Juve backed off.
"My agent was constantly in contact with Juve officials, but I needed to know where I stood.
"I grew fed up of waiting and I made a decision about 10 days ago. I am now going to stay at Lyon.
"The coach (Remi Garde) told me several times that he wanted me to stay and I am happy to help.
"At first I think Lyon were keen to sell, but now they are happy with my decision. They know I will be their player next year and possibly until 2015."
Asked what attracted him about a move to Juve, Bastos added: "It is an ambitious club that hires very good players. It was an opportunity to experience Italian football.
"I experienced a difficult time last season, but I always remained positive. I hope to show the Lyon fans on the pitch that I still love the shirt."