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TalkSports reveals Arsenal had a £27m ($35.66m) offer made for Cristian Pavon in January and remain interested in bringing Pavon to the Emirates this summer.
Pavon signed his first professional contract with Argentinian top-flight club Talleres de Cordoba in 2012, aged just 16.
After impressing with the Cordoba side, the youngster got his big break two years later, moving to Buenos Aires to sign for South American football giants Boca juniors in a £1m deal.
Reports in Argentina suggest Arsenal are prepared to trigger Pavon’s buyout clause, but Boca president Daniel Angelici claims no bids for the youngster have been received.
“For the moment, we have not received any proposal, formally or informally,” Angelici said. “But I know very well what I said to Cristian when we renewed his contract.
“I am not going to cut off his career, but we made him a nice contract so that he would be comfortable.”