Arsenal target Nolito refuses Celta Vigo extension

In-demand Celta Vigo striker Nolito has revealed that he will not be signing a contract extension, amid speculation linking him with a move to Arsenal.

The 29-year-old has netted seven Liga goals this season - including against Barcelona and Real Madrid - in a run of form that is expected to prompt a bidding war in January.

His existing deal - which has a £12m buyout clause - expires in 2019 but sporting director Miguel Torrecilla was hoping Nolito would pen an extension which would raise the clause to £17m.

"There is a detail that is not resolved and while it is not settled, I will not sign," the Spaniard, who has also courted interest from Barca, told reporters.

"I have a three-and-a-half year contract and a [release] clause of €18m."

Nolito joined Celta from Benfica in 2013.