Newcastle United are reportedly not prepared to pay Arsenal's asking price of £13.4m for striker Lucas Perez.
The 28-year-old forward is believed to be keen to leave the Emirates this summer after failing to land a regular spot in the team last season.
Perez joined the club from Deportivo La Coruna for £17m last summer, but he made just 18 appearances in all competitions, scoring five goals and creating two assists.
According to the London Evening Standard, Newcastle are interested, but they are unwilling to match Arsenal's valuation and would prefer a loan capture.
Perez, who is also wanted by his former club Deportivo, recently admitted that he feels cheated by Arsenal.
