James Rodriguez has reportedly rejected the opportunity to link up with Arsenal during the January transfer window.
The Real Madrid forward is currently in the second year of a two-season loan spell at Bayern Munich, but the Colombia international has found himself in and out of the team under Nico Kovac.
There had been the suggestion that the 27-year-old could depart the Allianz Arena, with Arsenal being touted as a potential destination for the attacker.
However, ESPN reports that James will remain at the Bundesliga outfit, with sources indicating that a third year at the club is not out of the question.
Bayern have the option to sign James on a permanent basis in the summer, although no decision is expected soon, with the player having only started seven games in Germany's top flight and the Champions League this season.
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