Arsenal refused to meet the price tag for Renato Sanches during the summer transfer window, according to Gazzetta dello Sport.
The Gunners signed Albert Sambi Lokonga from Anderlecht over the summer, but they were touted to pursue another midfielder.
Sanches was one of the players linked with them, but a deal did not materialise before the transfer window closed on August 31.
It is now revealed that the Gunners could have signed the Lille midfielder for £35m, but deemed the valuation to be high.
The north London giants are likely to return for him in January, but are set to face competition from AC Milan and Liverpool.
Sanches’ injury record over the years remains a concern, and clubs are eyeing a potential cut-price deal for his services.
The Gunners are currently without Granit Xhaka until January with a knee injury. Irrespective of this, there have plans for another midfielder.
Aside from Sanches, they have been linked with Denis Zakaria whose contract at Borussia Monchengladbach expires next summer.