Arsenal transfer news: Thomas Partey, Thiago Alcantara, Houssem Aouar, Hector Bellerin, Emiliano Martinez

Arsenal have given up hope on signing Atletico Madrid midfielder Thomas Partey, with the 27-year-old’s €50m release clause considered “impossible”, according to Spanish publication AS.

Partey had been Arsenal’s first-choice target in the position, with the club’s scouts having monitored the Ghana international for a protracted period. However, they’ve been left with no option but to turn to cheaper alternatives.

Meanwhile, a report in France claims head coach Mikel Arteta has spoken to Bayern Munich midfielder Thiago Alcantara personally in a bid to persuade the Spaniard to sign for the Gunners.

Thiago has less than a year remaining on his contract with the German champions, with the club reluctantly accepting that he will depart this summer, but Liverpool have always been in pole position to sign the 29-year-old.

The Athletic claim that Arsenal have held talks with Lyon playmaker Houssem Aouar, who is valued at around £50m by the Champions League semi-finalists.

The Gunners need to sell players in order to fund any incomings, though, with vice-captain Hector Bellerin subject to interest from PSG, who hope to capture the 25-year-old for a fee in the region of £30m.

Goalkeeper Emiliano Martinez is attracting interest from across Europe, with Aston Villa and Villarreal competing for the Argentine’s signature. However, Arsenal are keen to hold onto the 28-year-old and are expected to offer him a new contract.

The £27m arrival of Gabriel Magalhaes is set to trigger outgoings in the centre of defence, with Rob Holding expected to join Newcastle on a season-long loan.

Captain Pierre-Emerick Aubameyang’s three-year contract extension is expected to be announced in the near future, too.