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Arsenal reportedly failed with an approach to sign Barcelona winger Raphinha during the January transfer window.
The Gunners wanted to sign a marquee attacker last month and they were initially keen on landing Mykhaylo Mudryk.
Talks were advanced with Shakhtar Donetsk for the youngster, but the deal was hijacked at the last hurdle by Chelsea.
Mikel Arteta's side eventually signed Leandro Trossard from Brighton, but it appears the club had another target in mind.
According to Sport, the north London giants were prepared to pay €70 million to prise away Raphinha from Barcelona.
However, the Catalan giants refused to do business citing that the Brazilian remains a key part of their future plans at the club.
Meanwhile, Raphinha also shared a similar stance on the situation, having only joined them from Leeds United last summer.
It remains to be seen whether the Gunners return for him at the start of July. Arteta is said to be a huge admirer of his services.
Written by Sri Aswin
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