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Arsenal are yet to make an official offer for Real Sociedad’s Mikel Merino despite weeks of speculation about his future.

That’s according to El Diario Vasco, who report that there is some concern about the player at the Spanish club as he’s neither renewed his contract nor sorted out an exit.

The newspaper reports that there has been no movement on Merino, who has been offered a new deal but has Arsenal trying to close a deal for him too.

However, Arsenal are not yet close to making a formal offer for the player despite weeks of suggestions that they’re keen on the Spaniard.

Real Sociedad are still expecting movement and have experienced a similar situation before, with Newcastle seeing an offer rejected for Alexander Isak before the Magpies then returned 48 hours later and paid their asking price.

At the moment it doesn’t seem Arsenal will do something similar as they’re seemingly unwilling to pay €35m for a player who is 28 years old. The Gunners believe that is excessive, particularly as Merino is available on a free next summer and they can open talks with him in January.

Their hesitancy comes from high up, with Arsenal’s directors said to be wary of paying such a sum as they wouldn’t be able to recover it in future.

Thus, negotiations have halted, and Merino has returned to pre-season training with Real Sociedad. He could even be in the squad to face Rayo Vallecano on Sunday in their La Liga opener.

Real Sociedad believe time is on their side and they’re in no rush to sell, particularly for a price they don’t agree with, and so the soap opera around the player could be delayed further into the summer.

Arsenal are continuing to work on the transfer, but their focus is also on sales, meaning an agreement does not seem likely any time soon.

Of course, this could all be an effort to try and get a lower fee, with that fee agent status appearing large on the horizon as the days go by.