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Arsenal have had its opening offer for Shkodran Mustafi rejected by Valencia, according to reports.
Arsenal have long been linked with a move to sign the defender and the club were said to have made inquiries about signing the 24 year old last week.
The club have now followed up the inquiries with an initial offer which has been knocked back by the Spanish side.
According to Plaza Derpotiva via 101 Great Goals, Arsenal submitted an initial bid worth £15.2m which is a long way short of Valencia’s valuation.
It is understood that the Spanish side are willing to sell the defender to ease off their financial troubles but are holding out for a fee between €25m- €30m.
Mustafi is regarded as one of the best players in Valencia and has been impressive for the club since he joined them in 2014. His performances also earned him a place in Joachim Low’s German team and he didn’t disappoint as he was reliable for them in the Euro 2016 competition.
Following his performances in the last two years, it is almost certain that Mustafi will improve our defense considerably should he join the club, hence Wenger needs to match Valencia’s demand or risk losing him to a rival.