Arsenal are set to miss out on departing Stuttgart star Serhou Guirassy.
The Gunners first failed to land Benjamin Sesko who signed a new deal with RB Leipzig.
And now Guirassy is joining Borussia Dortmund, who will pay his release clause around €17.5million (£15m), according to transfer expert Fabrizio Romano.
The striker has also agreed personal terms with BVB ahead of next season.
Transfer expert Fabrizio Romano explained Arsenal are not close to signing Sporting Lisbon star Victor Gyokeres despite reports to the contrary.
I am told this is not true, at the moment, Arsenal are not at that advanced stages of their negotiation for Gyokeres.
They made contact on the player side already months ago, it was between April and May.
They are also informed about the conditions of the €100million (£85m) release clause, but also the cost of the deal in terms of salary and all the rest.
They have still not decided what they really want to do in that position or who is the priority target.
They want to take their time to assess the options, so at the moment with Gyokeres, it is not something imminent or close, but it’s an option.
Fabrizio Romano says he expects a host of Premier League clubs to bid for Riccardo Calafiori this summer.
The transfer guru said: “Now that Italy are out of #Euro2024, Bologna expect Premier League clubs to jump into the race for Riccardo Calafiori. Arsenal are keeping a close eye on the situation, but let’s see how they will move.
“He’s been scouted by Chelsea this year. Liverpool could also be one to watch, though at the moment, there is still nothing concrete happening there. My understanding is that his preference remains Juventus.
“However, the relationship between Bologna & Juve is complicated - this is because of the Thiago Motta situation. Still, Juventus are still there for Calafiori, there is an agreement with the player & it’s just Bologna are making life difficult for Juve.”
Alan Smith has said that Eddie Nketiah should leave Arsenal to gain first-team minutes.
Speaking to Prime Casino, he said: "Eddie Nketiah is another one who has climbed up through the ranks. I’ve got a lot of time for him; he's a good finisher. He’s another player who a club would think could do a job and score 15 goals at least in the Premier League.
"He's probably capable of doing that and would fetch good money as well. You never like to lose these academy products because you've put all this care, attention and love into them only to wave them goodbye.
"It’s a bit of a sad time when you sell an academy player, but it's just business at the end of the day and you can’t let your emotions get in the way."
It would be a shame if Arsenal sold Smith-Rowe - Alan Smith
Alan Smith said it would be a shame if Arsenal sold Emile Smith Rowe, but it is just business.
He told Prime Casino: "If Arsenal were to sell Emile Smith-Rowe, there would definitely be plenty of regrets felt by people inside the club and the fans that follow them.
"He would be the one sale that would hurt the most this summer if Arsenal were to move him on. Him and Saka came through together, almost as a double act.
"Saka has gone one way, and Smith Rowe, via injuries, has gone backwards. He's come back into the fold but needs must sometimes, and if you get offered a good price, sometimes you have to reluctantly wave goodbye to a player.
"If Smith-Rowe is not at the forefront of the manager's plans, then he would probably want to go and get his career started again.
Fabrizio Romano has confirmed Arsenal are in negotiations to extend Mikel Arteta's contract.
The transfer guru said: “They are in negotiations. There are discussions but there is really no rush or panic on both sides because they are feeling very good together & Arteta is super happy at Arsenal.”