Arsenal to lose out on Luis Enrique?

Arsenal could reportedly fail in their pursuit of landing Luis Enrique as their next manager owing to the Spaniard's demands for a hefty transfer budget.

Gunners boss Arsene Wenger has already announced his decision to step down from the managerial role in the summer, and Enrique has since been tipped to succeed the Frenchman.

However, according to The Mirror, the north London side are still far off from reaching an agreement with the former Barcelona head coach, who is said to want a £200m kitty in order to reinvest into the squad.

As per Enrique, only the positions of Pierre-Emerick Aubameyang and Alexandre Lacazette are safe in the first-team squad and the Gunners don't seem prepared to entertain a major squad overhaul.

Juventus' Max Allegri and Celtic's Brendan Rodgers have also distanced themselves from vacancy of late but Carlo Ancelotti could be an option after admitting that he would invite an opportunity with the Gunners.