Gunners refuse to meet the Serie A club’s asking price.
Arsenal look set to miss out on Fiorentina striker Stevan Jovetic according to The Daily Mail.
The Gunners have been strongly linked with a move for the Montenegrin star and had been favourites to land his signature.
But it is being reported that Arsenal are unwilling to meet Fiorentina’s valuation of the player.
The Serie A side are thought to be looking for a fee of £25 million for Jovetic and are unwilling to lower their asking price.
Arsenal value the forward closer to the £20 million mark and the two clubs been deadlocked in negotiations.
That could allow Serie A Champions Juventus to swoop in and seal Jovetic’s signature. The Old Lady are known to be interested in the striker but were thought to be in the back seat due to Fiorentina’s reluctance to sell to a domestic rival.
Juventus are however willing to meet the £25 million asking price which could bring about a change in heart for Fiorentina.
Arsenal are expected to spend big this summer as they look to re-establish themselves amongst the teams capable of challenging for the Premier League title.
The club have adopted a frugal transfer policy in recent years but are ready to give Arsene Wenger significant backing in the transfer market now that the loan on the Emirates Stadium has been all but paid off.