Arsenal have reportedly had a second bid for Atletico Madrid midfielder Thomas Partey rejected by the La Liga outfit.

Despite the fact that Arsenal are set to be severely financially-restricted heading into the summer transfer window, Partey continues to be linked with a switch to North London.

With Partey supposedly stalling over a new deal at the Wanda Metropolitano, it has been suggested that the Gunners are hopeful of snapping the 27-year-old up for a cut-price figure this summer.

However, The Guardian claims that Atletico are holding firm on their stance and will not sanction a sale for anything less than the midfielder's €50m (£45.5m) release clause.

Arsenal were believed to have had an initial bid of €25m (£22.8m) plus a player rejected, and the report claims that the Gunners have been rebuffed again by Atletico after offering the same amount of money and out-of-favour midfielder Matteo Guendouzi to Diego Simeone's side.

Guendouzi has not featured for Arsenal since his fracas with Neal Maupay in Arsenal's defeat to Brighton & Hove Albion, and the Gunners have allegedly made the 21-year-old available for swap deals ahead of the summer window.

Partey turned out 35 times for Atletico during the 2019-20 La Liga campaign and notched up three goals for Simeone's side.