Newcastle United are in desperate need of a forward as the transfer window comes close to an end.
Rafa Benitez has had his eyes set on Arsenal man Lucas Perez for the last couple of weeks but looks likely to miss out on his man, as frustration grows around St James' Park.
According to the Mirror, the 28-year-old has turned down a move to Newcastle in favour for a season-long loan to former club Deportivo de La Coruña with an option to sign permanently for a set price of £10m at the end.
Perez has failed to turn heads at the Emirates last season, only scoring one goal in a total of 11 Premier League appearances - although he did fare somewhat better in cup competitions.
It is understood that the Branquiazuis are ready to pay a hefty loan fee for their former forward as they look to recover from last season's 16th place finish in La Liga.
With Alexandre Lacazette playing as Arsenal's main striker, it is almost certain that Perez has fallen out of favour with Arsene Wenger in the pecking order.
Though the move to Deportivo is closing in, playing for Newcastle would have given Perez the chance to have regular game time in the Premier League. He initially moved to the north London club last season for fee of £17m.