Valencia defender Shkodran Mustafi will not join Arsenal during the last few weeks of the summer transfer window.
Manager Pako Ayestaran has made it clear that the Germany international as well as striker Paco Alcacer will not be sold by the club.
Mustafi is the third player who decided not to join Arsenal after a concrete offer was made the North Londoners.
The Gunners have also failed to lure strikers Jamie Vardy and Alexandre Lacazette to the Emirates.
Manager Arsene Wenger insisted at the end of last week that he wants to sign a central defender before the end of the transfer window.
"Mustafi is not for sale and will not be leaving the club," he is quoted as saying by Goal.
"With [Paco] Alcacer I can be as firm as with Mustafi, [club president] Lay Hoon already said it.
"The president has said in public that Alcacer and Mustafi are not for sale and I have to believe her."
