Mirko Vucinic has turned down the chance to join Arsenal after we had struck an agreement with Juventus to take the striker on loan for the rest of the season, according to reports in Italy.

As we reported earlier, the 30-year-old was due to fly into London today to undergo a medical after we reached an agreement with Juve to take him on a six-month loan.

Reports then emerged from Italy suggesting that Valencia had made a late move for the player and were prepared to pay a €1m loan fee with the option to make the move permanent in the summer for €6m.

Then news came that the 30-year-old had opted to turn down the chance to move to Spain, leaving Arsenal as the clear favourites to sign him before Friday’s deadline.

However, it now appears Vucinic has also rejected a potential move to Arsenal with reports once again coming out of Italy suggesting the striker has now decided to remain at Juventus and has taken himself off the market.

It’s certainly been a dramatic few hours in the Vucinic saga but it appears we’ve now finally missed out and he won’t be heading for north London.

Journalists are suggesting the player simply changed his mind or ‘something changed’ at the last minute, but it looks like our search for a new signing continues.

Something must have changed for Vucinic, Arsenal started pursuing him weeks ago and his agent stayed in touch with them @RakSingh1 — David Amoyal (@DavidAmoyal) January 30, 2014

As reported by @dimarzio, Mirko #Vucinic has refused Arsenal and Valencia bid. He decided to stay at Juventus. #AFC — Fabrizio Romano (@FabRomano21) January 30, 2014

I don't know why Vucinic would turn down Arsenal, but his agent was in touch with the Gunners for awhile- I think something changed — David Amoyal (@DavidAmoyal) January 30, 2014

MORE: Draxler comes through medical examinations

We’re in a world where transfers change by the minute, so we’ll keep you up-to-date of any new developments….