Here is your Arsenal transfer roundup on Wednesday, June 7.
Gundogan blow
Spanish outlet Sport have reported that Arsenal "cannot compete" in the battle to sign Manchester City captain Ilkay Gundogan.
Their report claims that La Liga champions Barcelona have offered the German international a three-year deal, 12 months longer than the Gunners' potential proposal. It is also said that Gundogan wants a change in environment, with a move to Spain appearing appealing to the player.
Gundogan has less than four weeks left on his current contract with City, meaning he is available on a free transfer if he doesn't extend his stay at the Etihad Stadium.
Declan Rice update
According to the Guardian, West Ham captain Declan Rice making a move to Germany is as unlikely amid links to Bayern Munich.
It is claimed that Arsenal have the upper hand in the race to sign the England international, with 'mutual admiration' between Rice and Gunners boss Mikel Arteta. Manchester United are said to be focusing on signing a striker, although they could still make a move move for the 24-year-old.
READ MORE: Arsenal news and transfers LIVE: Dortmund Gundogan twist, Boey swap offer, Rice wait
Fresneda latest
Spanish outlet Relevo have reported that Real Valladolid's relegation from La Liga has halved Ivan Fresneda's release clause.
The report claims that Fresneda's initial release clause was €40million (£34.4million), now dropping right down to €20million (£17.2million). Arsenal, Newcastle United and Borussia Dortmund are all said to be interested in potentially signing Fresneda this summer following a breakout 2022/23 campaign.
The Spanish fullback is more than comfortable operating as an inverted right-back, something that would help him seamlessly fit into Mikel Arteta's setup if he did join the north London outfit this summer.
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