Arsenal are preparing a second transfer offer for key transfer target Mikel Merino at Real Sociedad.
The Gunners have been locked in talks with La Real since the end of July but with no firm progress over an agreement to bring the Euro 2024 winner to North London.
Merino has reportedly agreed personal terms to make the switch but his his current club are holding out for as close to their full transfer valuation as possible.
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Real Sociedad have already held off Liverpool's approach for Merino's midfield partner Martin Zubimendi but they are less confident of retaining the former.
Merino has opted against a contract extension in San Sebastian, with his current deal expiring at the end of the 2024/25 season, so the focus in the Basque Country is to secure a maximum fee.
As per the latest update from The Guardian, Arsenal have seen a £21.5m ($27.5m) first offer rejected, with Real Sociedad holding out for £30m ($38.5m) before the EPL transfer window closes on August 30.
With Arsenal starting their new EPL campaign against Wolves on August 17, a second compromise bid could be delayed into next week, with Mikel Arteta's sole focus centred on that game.