Arsenal reportedly had the chance to land Lille and Portugal midfielder Renato Sanches in the summer.
However, the North London outfit refused to pay the €35m asking price by the French side Lille, according to the latest reports.
The player has been linked with several Premier League clubs in the past. These include Tottenham Hotspur, Wolves and Liverpool. However, the Gunners seemed more persistent in the efforts to bring Sanches to England.
Reports suggest, though, that the board were unwilling to fork out the aforementioned transfer fee set by Les Dogues.
Arsenal are allegedly still interested in landing Sanches next season but, it could be even more competitive to acquire his services, with some Bundesliga and Serie A clubs interested in the star.