Arsenal's supposed £40m bid for Karim Benzema has been labelled embarrassing by Real Madrid's president.
Florentino Perez is believed to have slammed the Gunners' opening offer for the out-of-form striker, according to Diario Gol, after the Premier League club tabled what they deemed to be a suitable offer for his services.
Benzema has often been linked with a move to the Emirates stadium, with manager Arsene Wenger known to be a huge admirer of his French compatriot's abilities.
However, Perez was apparently left less than impressed by Arsenal's offer and has immediately ruled out a move happening for a fee that he deems unworthy.
Benzema has struggled for form this season for Los Blancos and, despite notching two goals against APOEL Nicosia in the Champions League on Wednesday, has faced calls to be dropped.
The 29-year-old's haul of four goals in 14 appearances this term has left Real fans frustrated over Zinedine Zidane's continuous support of the former Lyon star, particularly when the likes of Isco and Marco Asensio are being left out of the side for the misfiring striker.
Benzema's lack of sensational displays has not put Wenger off bringing him to England, however, and the 67-year-old seems to view the 81-time capped international as a ready-made replacement for Alexis Sanchez.
The Gunners contract rebel is only seven months away from being able to leave on a free and only five weeks away from having the chance to talk to foreign clubs about joining them for nothing next summer.
Trading out Sanchez for Benzema would be seen as a step up by a fair few Arsenal fans, but many seem resigned to the fact that Sanchez won't stay in north London beyond the end of his contract.
If Wenger does want to bring Benzema in, he will now have to pay an even more handsome fee to convince Perez and Real to part with a marksman whose best days seem to be behind him.