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Espanyol president Jose Maria Duran has made it clear that the club won't hold negotiations with the Gunners for Raul de Tomas.
The north London giants are looking for a new striker before tonight's deadline, but they look set to be disappointed in the pursuit.
De Tomas has been on their radar in recent days, but he won't be sold unless they trigger the hefty €75m release clause on his contract.
Duran told Esport3: "Arsenal called for Raul de Tomas but we didn't even want to talk. We won't let him go now, no way. His release clause is €75m."
The 27-year-old has been in impressive form for Espanyol this term, bagging 12 goals in the Spanish La Liga, only Karim Benzema has fared better.
The Gunners were hoping to sign him as a stop gap option until the summer, but Espanyol have no plans of negotiating a lesser price for his services.
If the buy-out clause is triggered tonight, Espanyol would be given a month to sign a new replacement from the league, as per La Liga rules.
The Gunners are unlikely to make such a huge outlay on the Spaniard, who made his international debut earlier in the campaign.
Written by Sri Aswin
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