Arsenal have turned down a bid from Saudi Arabian side Al-Ittihad for Leandro Trossard.
The offer for the 29-year-old was an initial £4million (€4.75m) to take him on loan with an obligation to make the move permanent next summer for £25m (€30m).
However, it is understood that Arsenal did not entertain the bid and see Trossard as a key member of Mikel Arteta's side as they seek to build on consecutive runners-up finishes in the Premier League and end their 20-year wait for the title.
The club added Chelsea’s Raheem Sterling to their squad in the final hours of the transfer window on Friday but the club do not deem him to be a replacement for Trossard.
The Belgium international came off the bench to score his side’s opening goal in their 2-0 win away at Aston Villa but gave a low-key celebration seemingly in response to having been left out of the starting XI.
He played from the start as Arsenal were held 1-1 at the Emirates by his former club Brighton – whom he left in January 2023 to move to north London – on Saturday.
The transfer window for clubs in Saudi Arabia’s Pro League closed at 10pm on Monday.

Galatasaray have opened talks to sign Napoli striker Victor Osimhen on loan, the Turkish Super Lig club announced on Monday.
The 25-year-old Nigeria international penned a contract extension with the Italian club last December through to 2026 with a reported release clause of €130m.
A month later, Napoli president Aurelio De Laurentiis said Osimhen would leave at the end of the season.
The want-away striker has not been included in Napoli's official 23-man Serie A squad for the current campaign.
Osimhen's 26 goals helped Napoli win the Scudetto two seasons ago but it has all turned sour since.
Additional reporting: Reuters