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Arsenal have reportedly had a bid for Atletico Madrid midfielder Saul Niguez rejected.
The midfielder was close to a move to Arsenal in the January transfer window but the move was blocked by Atletico Madrid due to an injury to a first team midfielder.
However, Saul has been impressive for the Madrid side since nailing down a regular first team spot and Wenger has been alerted by his performances to the extent he was reportedly prepared to do whatever it takes to bring the midfielder to England in the summer.
But, according to Spanish media outlet Cadena SER via the Daily Star, Arsenal had their bid rejected for the midfielder with Atletico close to tying the midfielder to a new deal.
The midfielder currently has an £18m release clause in his contract but the report claims Wenger stumped up a bid worth £23.4m.
The midfielder has resumed negotiations with the Madrid club after talks between both parties broke down last week and it seems Wenger was trying to take advantage of the situation.
Wenger will now have to turn his attention somewhere else as the midfielder who already has seven goals to his name this season will likely stay put at the Spanish capital.