Arsenal have elected against pursuing a deal for Norwich star Emiliano Buendia after the Canaries quoted the Gunners a £40m fee for the Argentine, reports The Express.
The Premier League side are in the market for another creative midfielder this month as Mikel Arteta looks to replace Mesut Ozil.
The former Germany international is expected to leave the Emirates in January, with a move to Super Lig giants Fenerbahce likely.
Arteta is hoping to bring in a creative star to help the team in the final third, with Houssem Aouar, Julian Brandt and Buendia all linked with a move to north London.
However, Arsenal have backed out of a deal for the latter as they don't have the funds to match Norwich's demands.
The 24-year-old has been a revelation in the Championship this season, having scored seven and provided six assists.
Buendia's excellent form under Daniel Farke has seen him gain a WhoScored rating of 7.62, that better than any other player in England's second tier this term.
