Valencia manager Pako Ayestaran has warned Arsenal off Shkodran Mustafi.
The 24-year-old German defender is a confirmed target for Gunners boss Arsene Wenger.
But Ayestaran said: "Mustafi is not for sale and he will stay at VCF. The market is open and there are still possibilities."
Mustafi was named among the substitutes in Valencia's La Liga opener against Las Palmas on Monday night.
The German international came off the bench at half-time but was unable to prevent Valencia falling to their first defeat of the season, as they lost 4-2.