Arsenal’s have had a £40m bid rejected for wantaway Crystal Palace star Wilfried Zaha, which fell far short of the Eagles’ £80m asking price.

Zaha’s brother has subsequently urged Palace to allow Zaha to “realise his dream” and join Arsenal, however, it’s yet to be seen whether the Gunners’ limited transfer budget – around £45m – is capable of securing the 26-year-old’s services.

Alexandre Lacazette’s agent has arrived in London, according to GFFN. Lacazette has attracted interest from an unnamed Spanish club, believed to be Atletico Madrid, and is not considering signing a new contract with the Gunners.

The Frenchman was a key member of Arsenal’s squad last season, scoring 19 goals and adding 13 assists, in 39 appearances.

Arsenal‘s pursuit of Celtic left-back Kieran Tierney has been challenged by Napoli, according to the Daily Mail. Tierney is the Gunners’ top priority for the position, and the club had an initial £15m rejected in June.

Stay or go: Arsenal's squad Show all 32 1 /32 Stay or go: Arsenal's squad Stay or go: Arsenal's squad Arsenal: Stay or go? LONDON, ENGLAND - MAY 05: Arsenal players look dejected following a draw in the Premier League match between Arsenal FC and Brighton & Hove Albion at Emirates Stadium on May 05, 2019 in London, United Kingdom. (Photo by Clive Mason/Getty Images) Clive Mason Getty Images Stay or go: Arsenal's squad Bernd Leno - Stay After a steady integration and a few early errors, the German has settled in well as Arsenal's No 1 keeper, playing exceptionally against Leicester last week and more than justifying his £25m price tag. Action Plus via Getty Images Stay or go: Arsenal's squad Petr Cech - Retired The 36-year-old will hang up his gloves at the end of the season. Arsenal are keen to keep him on in a coaching capacity, however, Cech may prefer a return to former club Chelsea. PA Stay or go: Arsenal's squad David Ospina - Keep Napoli have an option to buy, however, the Colombian would prove a perfect, and most importantly free, back-up if the Italians do not take up that offer at a time when Arsenal need to focus on investing in other positions. REUTERS Stay or go: Arsenal's squad Emiliano Martinez - Sell The Argentinian has impressed at Reading on loan. But at 26, he's unlikely to ever establish himself as first-choice at Arsenal and the player is keen to move on and gain first-team football. Action Plus via Getty Images Stay or go: Arsenal's squad Laurent Koscielny - Keep A leadership figure at the club with one-year remaining on his contract, the Frenchman is certainly worth keeping on for a final season, despite becoming increasingly injury prone. AFP/Getty Images Stay or go: Arsenal's squad Sokratis - Keep Adapted well in his first season and also has genuine leadership qualities in the dressing-room. One of Arsenal's more reliable options in defence this season and a worthy back-up at the least. Action Images via Reuters Stay or go: Arsenal's squad Rob Holding - Keep Flourished under Unai Emery before his season was derailed by an ACL injury. Should establish himself as first-choice next season. Arsenal FC via Getty Images Stay or go: Arsenal's squad Shkodran Mustafi - Sell A liability who Arsenal will be desperately regretting not offloading to Inter Milan when they had the chance. Unreliable and error-prone, Emery does not rely on the German in a back-four and the club will be keen to move him on, even if his value has dipped dramatically. Getty Images Stay or go: Arsenal's squad Konstantinos Mavropanos - Keep Has been given precious little game time, despite high hopes around the Greek defender. Needs to be given more minutes next season unless Arsenal would consider a loan deal. AFP/Getty Images Stay or go: Arsenal's squad Calum Chambers - Sell Utlimately ended up playing as a central midfielder for Fulham this season and, while showing signs of improvment, does not have the quality to re-establish himself at Arsenal. Chambers is only 24 and should command a reasonable transfer fee from a side towards the other end of the Premier League table. REUTERS Stay or go: Arsenal's squad Hector Bellerin - Keep Another long-term injury absentee this season. Arsenal's best defender on his day and one they will certainly look to keep hold of. Getty Images Stay or go: Arsenal's squad Nacho Monreal - Keep The under-celebrated cog in Arsenal's maligned defence. Monreal can play both as a left-back in a 4-4-2 and as a wing-back or left-sided centre-half when Emery opts for five-at-the-back. Valuable versatility and experience that's worth holding onto as a back-up for the final year of his contract. Arsenal FC via Getty Images Stay or go: Arsenal's squad Sead Kolasinac - Replace for the right price Cannot be relied upon in a four-at-the-back formation. Frequently fails to track his marker and is lost for pace against skilfull wingers, despite often being brilliant going forwards. Very effective as a wing-back but Arsenal need a first-choice left-back who can be trusted to help sure up a leaky defence. Action Plus via Getty Images Stay or go: Arsenal's squad Ainsley Maitland-Niles - Keep More often used as a right-back, despite favouring a midfield role. Maitland-Niles has improved but is yet to totally convince. At 21, time is still on his side and he clearly has the potential, but he needs to find another level over the course of the next season. Getty Images Stay or go: Arsenal's squad Stephan Lichtsteiner - Release Has hardly impressed when filling in and at 35 is well off the pace of the Premier League. Contract expires at the end of the season and is almost certain to depart. Getty Images Stay or go: Arsenal's squad Carl Jenkinson - Release A cult favourite at the Emirates but a player who has never lived up to expectation. Will depart when his contract expires this summer. Getty Stay or go: Arsenal's squad Granit Xhaka - Keep Can be a frustrating anchor in Arsenal's midfield with errant passing and reckless tackling. Ideally Arsenal would replace the Swiss international, but with a replacement for Ramsey already required it's unlikely Xhaka can be afforded to leave. AFP/Getty Images Stay or go: Arsenal's squad Lucas Torreira - Keep The Uruguayan fell out of favour with Emery during the latter part of the season, despite immediately impressing. Still needs time to adapt to the pace of the Premier League but the 23-year-old continues to look brilliant value at just £25m. Action Plus via Getty Images Stay or go: Arsenal's squad Matteo Guendouzi- Keep The 19-year-old has been one of the shining lights of this first campaign under Emery, with huge potential and a fearless personality. Can steadily be refined into a first-team starter for years to come if continues to improve and irons out youthful flaws. Action Images via Reuters Stay or go: Arsenal's squad Mohamed Elneny - Sell Only used as a last-ditch option by Emery and does not have the technical quality to effectively fill in for those ahead of him. Arsenal should be able to recoup the £5m transfer fee paid for the Egyptian in 2016. Arsenal FC via Getty Images Stay or go: Arsenal's squad Aaron Ramsey - Joining Juventus Arsenal will need to replace Ramsey with a midfielder of similar ilk. The decision not to extend his contract has become increasingly mindless during the second-half of the season in which he has been Arsenal's best player. Arsenal FC via Getty Images Stay or go: Arsenal's squad Denis Suarez - Return to Barcelona Who? Barely featured since Arsenal desperately pursued a loan deal for the 25-year-old in January. The decision to sign Suarez, over younger players with more potential, also contributed to Sven Mislintat's shock departure. One to forget. Arsenal FC via Getty Images Stay or go: Arsenal's squad Alex Iwobi - Sell for the right price Showed early improvements under Emery but it's still hard to say Iwobi has proved he has the quality to stand against the Premier League's top wingers, with a lacking final ball and paltry goal tally. There's no need to actively look to move Iwobi onwards, but if the right offer came in Arsenal should consider their options. Getty Images Stay or go: Arsenal's squad Mesut Ozil - Intends to stay Arsenal should look to free up their wage budget and sell Ozil, despite a recent upturn in form after a season of quarrels with Emery. There was already an openness to offload Ozil in the January window, but the creative enigma has now claimed he intends to stay and there's little Arsenal can do to force him out. Getty Images Stay or go: Arsenal's squad Henrikh Mkhitaryan - Sell Has never managed to consistently impress at Arsenal and his £180,000-per-week wages are a hindrance on the club. Arsenal should definitely look to move the Armenian on. The 30-year-old iis another one though who may be happy to sit tight. Getty Images Stay or go: Arsenal's squad Reiss Nelson - Keep Started brilliantly at Hoffenheim before falling out of favour and then losing his space in the squad for disciplinary reasons. Has great potential and should hope to break through at Arsenal next season. DFL via Getty Images Stay or go: Arsenal's squad Emile Smith Rowe - Keep Made an impressive breakthrough before struggling with injury before Christmas, which has since prevented him from getting game time on loan at RB Leipzig. Clearly Arsenal's best young prospect with clear potential and, despite Leipzig's interest in another loan deal, Arsenal should look to keep him at the club next season. Arsenal FC via Getty Images Stay or go: Arsenal's squad Alexandre Lacazette - Keep Arsenal's player of the year this season. Build-up play, ability to hold up the ball, added robustness and willingness to drop deep behind Aubameyang has turned him into an ideal striker in Emery's set-up. Getty Images Stay or go: Arsenal's squad Pierre Emerick-Aubameyang - Keep Twenty goals in the Premier League this season, despite being guilty of occasionally missing key opportunities. Has developed a great relationship with Lacazette. Getty Images Stay or go: Arsenal's squad Danny Welbeck - Released Arsenal confirmed Welbeck's contract won't be extended after the draw with Brighton. Arsenal FC via Getty Images Stay or go: Arsenal's squad Eddie Nketiah - Loan Needs more time on the pitch to develop. Almost joined Augsburg in the January window and should look to improve on loan with options currently so limited behind Lacazette and Aubameyang. Arsenal FC via Getty Images

But while Arsenal are considering returning with an increased bid, Napoli have decided that they are interested in the 22-year-old. Carlo Ancelotti is said to be a keen admirer of Tierney and has sent scouts to Glasgow to watch a player who Celtic rate at around £25m.

The Sun reports that Arsenal are considering making a £12m bid for Hull forward Jarrod Bowen. The Englishman attracted interest from Tottenham last season, but the Gunners are ready to make an official bid. Hull’s asking price is believed to be in the region on £15m.

Meanwhile, The Mirror reports that Arsenal have been offered Nabil Fekir for £30m by Lyon. The Frenchman came very close to joining Liverpool last summer, only to see his transfer cancelled at the last minute, but is now available at a far more affordable price.

Lyon’s Nabil Fekir has reportedly been offered to Arsenal (Reuters) (REUTERS)

The Mail also reports that Arsenal held talks this weekend with Basel defender Eray Comert, who is keen to move to the Premier League.

However, the Swiss U21 international, who is also eligible for Turkey, is not for sale, according to Basel, and it will take a huge offer for Arsenal to prise him away.

Arsenal have had a £40m bid for Wilfried Zaha rejected (The Independent)

Arsenal are in a three-way bid for Dortmund’s Danish forward Jacob Bruun Larsen, according to the Sun, with Manchester United and Liverpool also in the running.

The 20-year-old has impressed in the European Under-21 Championship, scoring an impressive goal in the group stage against Serbia.