Arsenal reportedly made a £34m bid for Real Madrid star Marco Asensio in the summer but it was turned down after he was assured of his future in the Spanish capital.
Asensio has made seven appearances in all competitions so far this season after new Madrid boss Carlo Ancelotti insisted he was part of his first-team plans.
The Gunners, who did land Martin Odegaard from the Spanish giants in the summer, were most keen on Asensio and had a bid turned down according to Spanish radio station Cadena Ser, with Tottenham and AC Milan also keen.
The report details that Arsenal boss Mikel Arteta is still keen on signing Asensio in January however.
The Spaniard has seen his progress in Madrid stall after a horror knee injury forced him out for 11 months in July 2019.
He suffered the knock in a pre-season friendly against Arsenal.
After returning from injury he fell out of favour with then-boss Zinedine Zidane and missed out on a place in Spain’s Euro 2020 squad.
New manager Ancelotti is reported to have told Asensio he would feature on the right rather than in a front three but the player has made bit-part contributions so far this season.
He was left out of the squad for the victory over Valencia eight days ago but made a barnstorming return with a hat-trick against Mallorca last week.
Reports in Spain say further talks are expected between the two camps as Asensio assesses his options.
Real are trying to fund bids for Kylian Mbappe and Erling Haaland, with Asensio seen as a prime candidate for a January sale.
Leeds, Leicester and Everton are also understood to be tracking the situation after interest over the summer.