Arsenal have rejected an £8.5million offer from AS Roma for Henrikh Mkhitaryan, according to reports.
The 30-year-old is currently on a season-long loan with the Italian side and has scored twice in 10 appearances.
Mkhitaryan joined the Gunners from Manchester United in January 2018 as part of a swap deal which saw Alexis Sanchez head to Old Trafford.
But in his 18 months at the Emirates the playmaker struggled to find consistency and was in and out the starting XI.
Overall the ex-Borussia Dortmund star played 58 times for Arsenal, including three appearances at the start of this season.
His last match in the Premier League came in the 2-2 North London derby draw against Tottenham Hotspur in September.