Bayer Leverkusen sporting director Simon Rolfes says they are yet to receive a bid from Arsenal for defender Piero Hincapie - and the German club are determined to keep hold of him this summer.
Arsenal are interested in signing Hincapie before Monday’s transfer deadline, if Jakub Kiwior leaves the club.
Kiwior is a target for Porto, who are in talks with Arsenal after having a bid for the Poland international knocked back last month.
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Negotiations are ongoing over a loan move that would become permanent next summer, with potential add-ons and bonuses currently being discussed.
The total cost of the deal has not yet been agreed, but it will be more than the £20million that Arsenal paid to sign Kiwior two years ago.
If Kiwior leaves, then Arsenal will look to replace him and Hincapie is their preferred target.
The 23-year-old is capable of playing in the heart of defence or at left-back, and Arsenal’s interest in him dates back to before this summer.
Arsenal have been looking at left-sided defenders over the past 18 months, with Jorrel Hato - now of Chelsea - another player they scouted.
We still haven’t received an official offer from any club, so he’s our player ... and would like to see him continue with us
Hincapie has a release clause in his contract, which is reported to be worth around €60m (£52m).
Arsenal would want to pay less than that or agree a deal that would see the Ecuadorian arrive on loan, before making the move permanent next summer.
Any move for Hincapie is dependent on Kiwior going and Leverkusen are still waiting for a formal approach from Arsenal.
The German side are reluctant to lose the defender, who is one of their key players and has a contract that runs until 2029.
“We still haven’t received an official offer from any club, so he’s our player,” Rolfes told RTL/ntv and sport.de. “That’s the status quo.
“He knows that we value him highly and would like to see him continue with us.”
Leverkusen want to bring in new players before Monday’s transfer deadline and have been linked with Feyenoord midfielder Quinten Timber - whose brother, Jurrien, plays for Arsenal.
“The transfer window is still open until Monday evening,” said Rofles. “So the probability is high that something will still happen.”
