Arsenal have failed with an opening bid for Sporting CP striker Viktor Gyokeres.
Record says Arsenal have offered €55m up front plus €10m in bonuses to Sporting for the Sweden international.
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But that offer has been rejected immediately by Sporting, with the Lisbon giants seeking around €80m to sell.
Sporting are prepared to sell for less than Gyokeres' €100m buyout clause, but not at Arsenal's current attempt.
For their part, Arsenal are also in talks with RB Leipzig for Benjamin Sesko, who can leave the Germans for €60m this summer.