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Key update on touted €16m Arsenal transfer target after Unai Emery dismisses rumours

Amid speculation of a move to Arsenal, Keylor Navas has reportedly penned a new contract extension with Real Madrid to end talk over his future.

Despite playing a fundamental part in Madrid’s recent success, the 32-year-old has found himself benched this season following the arrival of Thibaut Courtois from Chelsea last summer.

SEE MORE: Manchester United to block star’s potential transfer to Arsenal

He’s been limited to just eight appearances in all competitions so far this year, and as noted by TeamTalk, he had been paired with a move to Arsenal in a deal worth €16m.

However, after Gunners boss Unai Emery dismissed talk of launching a bid for the Costa Rican international on Thursday, as per Sky Sports, it has now been reported by Marca that Navas has in fact signed a one-year contract extension with Los Blancos.

In turn, that would suggest that he has no intention of going anywhere in January or this summer, and will stick it out at the Bernabeu and continue to fight to win back his place in the starting line-up under Santiago Solari.

Whether that’s a sensible move or not is up for debate as Courtois will seemingly remain first choice, but Navas appears to be set to remain in the Spanish capital and will snub a potential move to north London or elsewhere.

It remains to be seen if that forces Arsenal to consider other options if they are indeed in the market for a new goalkeeper, with veteran shot-stopper Petr Cech’s current contract set to expire this summer.

Time will tell if he signs a new deal or if the Premier League giants look elsewhere to add competition for Bernd Leno as they’ll certainly need a capable second option.

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