• Bid is £2m less than last summer's offer for defender • Serious offer closer to £20m may tempt David Moyes

Arsenal have had a bid of £10m for Phil Jagielka turned down by Everton, with the price for the 28-year-old England defender not close to the Merseyside club's valuation.

Jagielka is considered by David Moyes, the manager, as one of his key players, and does not want to sell him. However, if Arsène Wenger, the Arsenal manager, returns with a serious bid closer to the £20m or more Everton view as Jagielka's market price then the club may have to consider selling him.

Jagielka signed a four-year contract with Everton in March. This is the second summer Wenger has bid for the player and the Goodison club will be conscious that after the Frenchman offered £12m for him the current offer is way below what is a realistic price.

Wenger has long admired Jagielka, who has been an outstanding performer on Merseyside since a £4m move from Sheffield United in July 2007. Wenger must now decide whether to increase his offer or firm up his interest in Gary Cahill of Bolton Wanderers.