Arsenal's hopes of signing Argentina international Cristian Pavon have seemingly been ended after the forward signed a new contract with Boca Juniors.
The Gunners had been linked with a summer move for the 22-year-old after being impressed with his performances for his country at the World Cup in Russia.
Barcelona were also credited with an interest in the player, but he has now put pen to paper on a new deal with Boca which raises his minimum release clause to around £37.5m.
Pavon has scored six goals and registered 11 assists for Boca in the Primera Division this season.
