Arsenal's hopes of luring Wilfried Zaha to the Emirates appear to be over.
The Crystal Palace winger had emerged as a possible target for Arsenal after confirming his desire to leave Selhurst Park this summer.
Tottenham and Manchester United have both been linked with Zaha, with Palace demanding at least £80m for their talisman.
Arsenal's Europa League final defeat to Chelsea is likely to cost them dearly though in their pursuit of the Ivory Coast international.
Boss Unai Emery was desperate to get back into the Champions League to give him the funds to help fund a major overhaul.
But Emery has been left with as little as £40m to spend on new players and will have to generate more cash by selling big names - with Mesut Ozil, Shkodran Mustafi and Henrikh Mkhitaryan likely to be among those up for grabs.
Arsenal want Bournemouth ’s highly-rated Ryan Fraser who has a year left on his contract and had been tipped to make an ambitious move for Zaha.
But without the cash that Champions League football would have provided, that deal looks dead in the water.
Previous comments made by Zaha gave Arsenal a major boost after he stated he wanted to join the Gunners.
"It was always Arsenal, Arsenal, Arsenal, Arsenal in terms of where I could be going," he told The Sun ( via ESPN) ahead of making his switch to Manchester United.
“I have always supported Arsenal. I did not expect United to come in but they did.
"Arsenal are a good team but United are one of the best in the world."
