Arsenal have had their opening offer for Shakhtar Donetsk winger Mykhailo Mudryk turned down by the Ukrainian outfit, according to reports.
The Gunners have been linked with the attacker since the summer and are ready to renew their efforts to bring him to the Emirates Stadium when the transfer market reopens for business on Sunday.
But Shakhtar are driving a hard bargain and Arsenal are not the only club interested in acquiring the Ukraine international.
According to the Evening Standard, Arsenal have had a £55m bid for Mudryk rejected by his current employers.
The 21-year-old, who is valued at £35m by Transfermarkt, is thought to be keen to move to the Premier League in the winter window, but his club are determined to sell him for what they consider to be the right price.
Arsenal will not give up in their pursuit of the forward, with a new offer expected to be submitted in the coming days.
Mudryk caught the eye with his performances in the group phase of the Champions League, in which he scored three goals and provided two assists.
The Ukraine international would provide further competition for places in the Arsenal attack, as Mikel Arteta's side attempt to win the Premier League title.
The Gunners moved seven points clear at the summit of the standings after a 3-1 victory over West Ham on Boxing Day.
However, Manchester City will cut their lead to five points if they beat Leeds on Wednesday.
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