Arsenal are reported to have made a formal approach for highly-rated Santos youngster Gabriel Barbosa. The 19-year-old currently has a £42m release clause in his contract.

Gabriel, commonly known as Gabigol, is regarded as one of the finest talents to emerge from his native Brazil.

ESPN Brazil suggests that the Gunners joined Chinese side Hebei China Fortune to lodge a £20.8m bid for the player's services.

However, the offer was swiftly rebuffed by Santos' president with the youngster willing to spend another season with the club before pursuing his career elsewhere.

Gabigol has adapted well for Santos at such a tender age netting 54 goals in 148 outings. 

Barcelona and Chelsea have been previously touted as possible destinations for the striker.