Arsenal have been rebuffed in their attempts to sign Denis Suarez on loan as Barcelona have told the north London side they only want a permanent transfer, with the Gunners reportedly unable to afford the fee.
The news will come as a major blow to Unai Emery, after the player was heavily linked with a move to the Emirates with the Gunners trying fill the gap that will be left by Aaron Ramsey's impending departure.
Journalist Ed Polo, who works for Mundo Deportivo, claimed that Arsenal were confident of signing the player on loan, but Barcelona will only settle for the 25-year-old outcast leaving the Camp Nou for good.
“The option would be to be ceded, Arsenal now cannot pay transfer,” Polo said on Twitter, as quoted by the Express.
“Or transfer to Arsenal or stay in Barcelona until the summer.”
Emery has worked with the Spaniard during his time at Sevilla, and the duo reportedly have a strong relationship.
Suarez was left out of Barcelona's squad entirely on Sunday's 2-1 victory over Getafe, sparking further rumours as to where the player's future lies.
He has featured only six times in all competitions for the Catalan club this term, yet has still managed to find the net on two occasions, with both goals coming in the Copa Del Rey.