Arsenal shareholder Alisher Usmanov has rubbished suggestions that he is trying to sign highly-rated Palermo striker Paulo Dybala this summer.
The 21-year-old Argentine has courted interest from some of Europe's elite clubs after netting 13 times in his breakthrough season in Italy.
Consequently, Dybala revealed that he will be leaving the club this summer, with Gunners boss Arsene Wenger stating that he will not be in the queue for him.
Speculation has mounted that Usmanov, who owns 30% of Arsenal, had touched base with the Italian club, but he released a statement via his company Red & White Holdings to dismiss the reports.
"Contrary to inaccurate media reports, Red & White would like to clarify that it has not made any formal or informal contact with either Paulo Dybala, his agent or Palermo football club," it read.
The North Londoners sit second in the Premier League table, seven points behind Chelsea.
