Arsenal reportedly made a £34m bid for Real Madrid star Marco Asensio in the summer but it was turned down after he was assured of his future in the Spanish capital.
Asensio has made seven appearances in all competitions so far this season after new Madrid boss Carlo Ancelotti insisted he was part of his first-team plans.
The Gunners, who did land Martin Odegaard from the Spanish giants in the summer, were most keen on Asensio and had a bid turned down according to Spanish radio station Cadena Ser, with Tottenham and AC Milan also keen.