Arsenal have lost out to Sevilla in the race to sign Monchi as their new technical director, after the transfer guru opted for a return to his former club over a move to the Gunners.
The 50-year-old has built up a reputation as a shrewd operator in the transfer market with both Sevilla and Roma, helping the former sign the likes of Dani Alves and Adriano for bargain prices, while bringing in stars such as Javier Pastore to the latter.
In his playing days, Monchi was a goalkeeper, and spent his entire career in Spain with Los Hispalenses.
Sevilla announced the news on their official Twitter page, posting a compilation of moments during his previous time in a director's role at the club, accompanied with stirring classical music. The club are currently sitting sixth in La Liga, and will be hopeful that Monchi can unearth some more gems capable of propelling the side up the table next season.
The Ajax director of football is unlikely to leave the Dutch side until the summer, but is believed to be highly interested in a switch to the Emirates Stadium when the season concludes.
In other news, it has been suggested that the Gunners may look to offer Crystal Palace a hefty £40m alongside either Ainsley Maitland-Niles or Reiss Nelson in exchange for their promising full-back Aaron Wan Bissaka.
The England U21 international has starred for the Eagles this season, and has been heavily linked with a move to a top six club next summer.