Arsenal have reportedly turned down a pair of bids from London rivals Fulham and Crystal Palace for out-of-favour attacker Emile Smith Rowe.
The 23-year-old was heralded as the latest star to emerge from the Gunners' Hale End academy in 2021, breaking into the first-team setup on a regular basis at the start of the year.
Smith Rowe was rewarded with a new long-term contract that same summer, where Arsenal also fended off two bids from Aston Villa, and his renewal preceded a 10-goal Premier League campaign.
The Englishman also caught the eye of Gareth Southgate with his performances in the 2021-22 season, but due to a combination of factors, he has failed to kick on since.
Injuries have seriously hampered Smith Rowe's development, while Gabriel Martinelli and Leandro Trossard also provide fierce competition for the left-wing spot, which he had nailed down a couple of years back.
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Palace, Fulham 'discussing' new Smith Rowe offers
The England international's versatility means that he can also do a job in the left eight position in a midfield three, but the impressive Declan Rice made himself indispensable in that position last term.
As a result, Smith Rowe played just 475 minutes in 19 appearances last season - setting up two goals - starting a mere three games in the Premier League and none in the Champions League.
With two years left to run on his contract, an exit has been seen as a likelihood this summer, but according to Sky Sports News, both Palace and Fulham have seen their offers rebuffed.
It is believed that the Cottagers submitted an offer of £30m to sign the Arsenal academy product, who has contributed 18 goals and 13 assists in 115 matches for the club since coming through their youth system.
The report adds that the two capital outfits are weighing up whether to go back in with an improved bid, although a report from the Daily Mail states that Fulham may break the bank with a £40m proposal.
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Arsenal selling Smith Rowe could open Eberechi Eze door
Should the Cottagers stump up such a fee and Arsenal accept, Smith Rowe would become their most expensive sale of all time, surpassing the £35m that Alex Oxlade-Chamberlain commanded when he left for Liverpool in 2017.
However, by selling to Palace, Arsenal could boost their chances of winning the race for the much-coveted Eberechi Eze, whom the Eagles may very well view Smith Rowe as an ideal replacement for.
The Gunners may have to compete with Tottenham Hotspur, Liverpool and Manchester City to prise Eze away from Selhurst Park, but shaking hands with Palace on a deal for Smith Rowe could put them in a favourable position over their rivals.
However, there is no suggestion that Eze could join the Gunners in a swap or part-exchange agreement involving Smith Rowe, who is said to be prioritising regular minutes for next season and is still assessing all of his options.
Arsenal confirmed two loan exits on Monday, as Albert Sambi Lokonga joined Sevilla on a temporary basis, while Nuno Tavares was offloaded to Lazio, who have an obligation to make the deal permanent if certain sporting conditions are met.
