Teodoro Fonseca admits there's been contact with the Gunners.
Fonseca told A Bola: "Every year there are more clubs interest in Hulk and I am also aware that there are clubs from outside the Premier clubs interested.
"This Arsenal rumour is news to me but it is true that there has been contact before but nothing happened.
"But I speak often with Porto and the figures have not changed. He will only be sold if someone pays the £100m so this figure of £23m that has appeared would not be considered."