Arsenal have failed with an €80m double bid for Sporting Lisbon pair Gelson Martins and William Carvalho – but are preparing a fresh attempt.
The Gunners are pressing accelerator in the transfer window as Arsene Wenger seeks to reshape his squad in order to push his side back into the top four in the Premier League.
Portuguese sports daily A Bola recently reported an €80m offer from Arsenal for Sporting Lisbon duo Martins and William – but according to Portuguese outlet ZeroZero, it has been knocked back.
However, it is claimed that Arsenal will not give up and in response to Sporting Lisbon's demand for €100m for the pair, are ready to come back with a bid of €88m.
Following years of prudence in the transfer market, Arsenal are showing signs of loosening the purse strings.
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The Gunners are also closing in on the signing of Alexandre Lacazette from Lyon, for what should be a club record transfer fee.
And Arsenal are also being tipped to win the race for Leicester City winger Riyad Mahrez.