Arsenal are out of the race to sign Yannick Carrasco from Chinese Super League side Dalian Yifang, according to reports.
The Gunners attempted to sign the Belgium international on loan during the January transfer window and after failing with that move, they had reignited their interest ahead of the summer.
Carrasco has already made it clear that he wants to leave China in order to return to a club in Europe.
But according to The Sun, Arsenal will not be Carrasco’s next destination as Dalian Yifang are standing firm over their £30 million valuation of the 25-year-old.
The report claims that Unai Emery has been given a small transfer budget to work with and the Gunners are refusing to spend the majority of it on just one deal.
Carrasco is now set to join another side in Europe, while Arsenal are forced to explore alternative signings.
One possible alternative is Bournemouth winger Ryan Fraser.
The Scotland international has just a year left on his contract but Bournemouth are demanding £30m for the midfielder.
‘I honestly don’t think anyone will be paying that,’ Fraser admitted this week.
‘It was six or seven months ago that we last spoke about my future, but nothing since. Even in the end of season meeting I had with the manager [Eddie Howe], we didn’t speak about my future.
‘He knows I’m not one to speak about it. If something happens, it will happen.
‘If it doesn’t, then I’m not one to throw my rattle out of the pram. I’ll keep trying my best. I keep getting things tagged on Instagram that I’m going places and I think ‘Am I?’.
‘I’ve got a year left with Bournemouth. If I’m there, I’ll give my all. If I’m somewhere else, I’ll give my all. I just want to play well, do my best and work hard for my team-mates.’