Arsenal have reportedly pulled out of a proposed move to sign Thomas Lemar from AS Monaco for a British record transfer fee of £92m.
The Gunners have been interested in bringing the 21-year-old winger to the Emirates Stadium for some time now, and numerous reports suggested that they had made a significant last-ditch attempt to complete the deal by offering £92m - a fee which would have dwarfed their previous record signing.
Monaco are understood to have accepted Arsenal's bid, but Arsene Wenger's side have now reportedly pulled out of the deal as they will not have enough time to complete it.
The development could have a knock-on effect for Alexis Sanchez, who is unlikely to be allowed to leave North London without a replacement coming in.
Manchester City are eager to sign Sanchez before tonight's transfer deadline, but Arsenal have so far knocked back their approaches for the Chile international.
Barney Corkhill
