German had been set to sign for the Gunners.
Bundesliga champions Bayern Munich told coveted Schalke 04 midfielder Julian Draxler “to wait until the summer” when the Bavarians will make their move for the youngster, according to reports in German sports daily Bild.
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The highly rated Germany international has been closely monitored by Premier League outfit Arsenal for the past 12 months now, with the north London club having made Draxler their number one transfer target.
In fact, the Gunners even came close to landing the 20-year-old in the recent January transfer window, only for they and Schalke to fail to reach an agreement over a price for the German, with his employers insisting that their star man would not be allowed to quit the club for a fee less than the value of his £37.5m release clause in his contract.
And with Arsenal head coach Arsene Wenger refusing to shell out such a large amount of money on a relatively untried player, the deal eventually collapsed, although it is still expected that the Frenchman will try to reignite his interest in Draxler come the end of the campaign.
But by then, if reports in Germany are to be believed, it may be too late, with Bayern now all set to sign Draxler this summer.