Valencia defender Shkodran Mustafi has not agreed personal terms with Arsenal, according to reports.
The 24-year-old has been linked with a move to the Emirates Stadium in recent weeks due to the Gunners' current shortage in defence, with Per Mertesacker and Gabriel Paulista both sidelined through injury.
Reports earlier today suggested that the Germany international had agreed a deal with the North Londoners, with the only remaining stumbling block being the transfer fee.
However, those reports, sparked by alleged comments from Mustafi's agent, are thought to be false, according to PA.
Arsenal, who could also be without Laurent Koscielny for their Premier League opener against Liverpool on Sunday, have elsewhere been linked with a move for Jonny Evans.