AS Roma sports chief Walter Sabatini admits they're pulling out of the race for Velez Sarsfield star Ricardo Alvarez.
The Giallorossi had named Velez Sarsfield talent Alvarez as one of the main targets for the summer under Coach Luis Enrique.
"It's true we had a pre-contract agreement, but 15m for Alvarez is a bit much," director of sport Sabatini told Teleradiostereo.
"I believe a player should be paid what he is worth. Alvarez was born in 1988 and has room for improvement, but it's also fair to say he hasn't played very much in the first team."
Arsenal hope to close an £11 million deal for Alvarez this week.