Arsenal are set to miss out on Napoli attacker Eduardo Vargas as the former QPR man has turned down a return to London with the Gunners.

Vargas was tipped to join Chilean teammate Alexis Sanchez at the Emirates after featuring for QPR last season and starring in Chile's Copa America success, but Napoli sporting director Cristiano Giuntoli has said the 25-year-old is poised for a move elsewhere.

Giuntoli told El Mercurio: "We deal with many offers for Eduardo Vargas. The UAE offer is very good for the club, but we're also handling an offer from Spain."

Giuntoli refused to name the clubs involved, but it appears Vargas will not be returning to the Premier League next season.