Arsenal and Chelsea were among a number of clubs to table bids for Juventus defender Daniele Rugani, according to the player's agent Davide Torchia.
Rugani, 26, made his debut for Juve in 2015 and has made a total of 101 appearances for the Old Lady.
But the Italian centre-back has struggled to cement himself in the first team in recent seasons and has regularly been linked with a move away from the Allianz Stadium.
Rugani joined Ligue 1 side Rennes on a season-long loan earlier this month, while his representative claims he has also come close to a permanent move to a number of European giants.
Asked if Juventus had turned down €40million (£36million) for his client, Torchia told TMW Radio : “At the time, Arsenal, Napoli, Chelsea, Zenit and Lyon arrived at around €30million (£27million) and [they] were never taken into consideration.
"For those prices, Juve did not sell him, and I do not dispute whether they did right or wrong."
Arsenal were linked with a move for Rugani last year, while former Chelsea boss Maurizio Sarri came close to bringing him to Stamford Bridge in 2018.
Would Rugani have been a good signing for Arsenal or Chelsea? Have your say here.
But Torchia explained the bid was not enough to prise his client from Juve as he discussed the difficulty of securing the player a loan move.
He added: “With Sarri at Chelsea, then there was an offer close to €40million, and Juve said no there too. Also because they needed to understand who the substitute is and how much it costs.
"Now he has gone away on an onerous loan, and that’s the market. Many then criticised the excessive salaries, 3-4million, but it is not true.
"Instead of taking the bait, you listen to certain serious broadcasts like this and maybe something comes out."
Rugani extended his contract with Juventus last year and is tied down to the Serie A champions until 2023.
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