Arsenal are planning to swoop for Real Madrid midfielder James Rodriguez in January, but he wants to hold out for a move to Inter Milan or PSG next summer.
The 28-year-old has made only seven appearances in La Liga so far this season, and is currently out injured with a knee injury sustained over the international break.
But despite Arsenal's surprise interest, James is keen to hold out until next summer after the Copa America, and also prefers a move to Italy or France over England, according to Spanish outlet El Desmarque.
The report also details that Arsenal's offer of £35million falls short of the valuation of the player by Real Madrid president Florentino Perez, who is believed to currently value the Colombian at a minimum of £42m (€50m).
Like the player himself, Perez is also keen to wait until the end of the season when James' value could go up with a strong showing at the Copa America.
The attacking midfielder, signed for £63million in the summer of 2014 after a standout display at the World Cup, has started just five matches in all competitions and has not played since October 22.
He has only just returned to Madrid following a two-year loan spell at Bayern Munich - the German giants opted against signing the Colombian on a permanent deal last summer.