Arsenal could miss out on transfer target Joao Felix in January, according to David Ornstein of The Athletic.
The Gunners have been linked with a move for the Atletico Madrid star in January, with his future at the Spanish club in doubt.
But any move would almost certainly be an initial loan deal, with Atletico wanting to recoup most, if not all, of the £113 million they paid to sign Felix from Benfica in 2019 if they were to sell.
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Arsenal, meanwhile, are searching for a replacement for Gabriel Jesus, who will miss a number of months following knee surgery.
They have already assigned Shakhtar Donetsk winger Mykhaylo Mudryk as their priority target, and saw a bid rejected for his services by the Ukrainian club on Tuesday.
But Felix is another option and, with reports from the Daily Record that an £8 million loan fee payment and the player's full salary covered could get a deal done, interested clubs are understandably circling.
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However, Ornstein has offered a word of caution to Gunners fans.
David Ornstein gives Joao Felix, Mudryk update
Speaking on NBC Sports prior to Leeds vs Manchester City in the Premier League on Wednesday, Ornstein explained: "He [Felix] has been offered to a number of clubs, and at the moment, the numbers are too high.
"Manchester United, Chelsea, many others [have been offered Felix]. Jorge Mendes, his agent, knows he needs to move Joao Felix, because he's out of favour at Atletico Madrid.
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"Arsenal are keen to do it, but the numbers would need to come down for that to happen. I think probably they will.
"It would only be a six-month loan, and that's going to be very expensive, but he's a high-quality player."
Ornstein also revealed that Shakhtar want €100 million to sell Mudryk - a much higher fee than Arsenal's initial bid of a total €65 million.
However, he added: "My sense is, and speaking to people across the industry, that they will come down from the price that they are asking for him, and a compromise will be reached."
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Gunners fans will hope a compromise is reached, with the January window officially opening on Sunday.
Topics: Arsenal, Transfers, Premier League