Arsenal have been priced out of the race for Dalian Yifang winger Yannick Carrasco.

The Sun says Gunners manager Unai Emery has just £45m to rebuild his squad this summer after his side missed out on securing Champions League football last season.

Arsenal were keen on acquiring the Belgian winger's services back in January but now their pursuit appears to be over with Carrasco priced at £30million.

Signing Carrasco would leave Emery with just £15m to further bolster his squad and as a result the 25-year-old is reportedly set to move to another side in Europe.

Carrasco joined Dalian Yifang from Atletico Madrid last year and he scored seven goals and provided two assists in 10 appearances last campaign.