Arsenal were reportedly one of a number of clubs to make a big-money approach for Sporting Lisbon youngster Joelson Fernandes this summer.
Despite his lack of first-team experience, the 17-year-old was on the radar of several Premier League clubs during the most recent transfer window.
According to Odemocrata, Arsenal failed with a £17m bid for the prospect, an approach which was seemingly confirmed by his father Eusebio Fernandes.
Speaking to the outlet, he said: "It was an extremely difficult and very complicated process. Because there were tough moments in the negotiations for Joelson Fernandes to stay at Sporting.
"My wish was always for him to stay at the club, but due to his quality as a footballer, he had calls from several European clubs."
Fernandes has since penned a new three-year contract, which also includes a £54.5m release clause.