Wolverhampton Wanderers have rejected a £50,000 bid from Arsenal for goalkeeper Daniel Bentley.
The Gunners are looking for a back-up for David Raya, with doubts surrounding Aaron Ramsdale's future.
But their offer falls well short of Wolves' valuation, especially as Gary O'Neil's side would need to source a replacement.
Wolves start their Premier League campaign on 17 August at Arsenal and would only have Tom King, who joined from Northampton last year, as senior support for number one Jose Sa.
Ramsdale's position at Arsenal is uncertain after he lost his place to Raya last season.