Brentford boss Thomas Frank has admitted that he "would love to get £40m" for Arsenal target David Raya.
The Spain international was an integral part of a Brentford side that secured a ninth-placed finish last season, keeping 12 clean sheets in 38 Premier League games.
However, Raya is seemingly keen to secure a move away from the West London club, having rejected the chance to extend his contract.
With his current deal set to expire at the end of next season, the 27-year-old has been linked with a number of clubs.
Tottenham Hotspur were believed to be in the running for his signature earlier this summer, before signing Guglielmo Vicario after being put off by Brentford's asking price.
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Bayern Munich have also been in negotiations over a potential deal that would have seen Raya join the club on loan with an option to make the move permanent at the end of the season.
Talks have reportedly broken down with the German champions, paving the way for Arsenal to enter the race for his signature.
The Gunners are said to be exploring a potential deal, as they look to bring in competition for their current number one Aaron Ramsdale.
With Arsenal considering a move for the Brentford goalkeeper, Frank has made it clear how much he believes the Spaniard is worth.
"Like everything it's a negotiation. I would love to get £40m," Frank told reporters following Brentford's 3-3 draw with Aston Villa in the Premier League Summer Series.
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"That's what he's worth. I think he's one of the best keepers, he was one of the four best keepers in the Premier League last season, so what is the price?
"And [Harry] Kane you're talking one year left and £150m. The keeper is at his best age I think. But anyway a good thing I am not negotiating. That is for Phil [Giles] and Matthew [Benham] and Arsenal. I just take care of the coaching."
The Bees have already moved to sign Raya's replacement, recruiting Netherlands international Mark Flekken from Freiburg for £11m.
Brentford will round off their pre-season schedule with a home game against Lille on Saturday, while Arsenal are set to face Manchester City in Sunday's Community Shield.