Valencia insist that they are not negotiating with any club for Arsenal target Shkodran Mustafi, as the Gunners dawdle over a deal for the World Cup winner.
Arsene Wenger's side were forced to open their Premier League campaign with rookie Rob Holding alongside Calum Chambers in the heart of their defence and saw Liverpool hit them for four at the Emirates.
Arsenal enquired about Mustafi last month and were quoted an asking price of €25million (around £20m) despite the player's release clause being double that - as revealed by MirrorFootball.
The 24-year-old centre-back is one of Valencia's most valuable assets after the £45million sale of midfielder Andre Gomes to Barcelona, with the club still looking to make up a budget shortfall after missing out on continental football.
It is why they were willing to cash in on the defender but, despite Mustafi's agent last week claiming personal terms were agreed, senior club sources at Valencia insist Arsenal have not returned with a concrete offer as of Monday lunchtime.
Another Valencia defender, Aymen Abdennour, could be Premier League-bound however.
In pictures: Arsenal 3-4 Liverpool
Everton have shown an interest in the centre-back who arrived from Monaco with a great reputation but has struggled in La Liga.
Valencia have made no official approach for Eliaquim Mangala yet, who is a loan target, but are in advanced talks with Watford's Mario Suarez over a return to Spain.
