Arsenal may not be in the market for Paulo Dybala this summer after all, with shareholder Alisher Usmanov emphatically rejecting claims that he has made contact with Palermo or the player in a bid to help complete any potential deal.

Argentine Dybala has been the subject of a raft of transfer speculation over recent months as doubts regarding his long-term future in Serie A continue to circulate.

With his current contract at the Stadio Renzo Barbera due to expire next year, the expectation is that the striker will be on the move at the end of the season and he did little to quell those rumours over the weekend by claiming that the remaining games of the 2014/15 season could be his last for mid-table Palermo.

Chairman Maurizio Zamparini looked to accelerate negotiations last week, insisting that Arsenal were among the clubs that had already made an offer for Dybala.

Such comments, presumably made to ensure that interest in the player remains high as the club look to sell for a hefty fee, led to reports that Usmanov himself had intervened on behalf of the Premier League side.

Involvement denied

He disputes that, however, releasing a statement through his company Red & White Holdings that categorically denies any involvement.

"Contrary to inaccurate media reports, Red & White would like to clarify that it has not made any formal or informal contact with either Paulo Dybala, his agent or Palermo football club," the statement said as reported by the Daily Mirror.

Arsene Wenger has also previously given short shrift to rumours regarding a possible swoop for Dybala, challenging Zamparini to show details of the offer he claims Arsenal have supposedly submitted.

The Gunners, as evidenced by their hugely impressive 4-1 win over Liverpool on 4 April, are not currently bereft of firepower with Olivier Giroud having now notched seven goals in just six top-flight games.

While they may indeed look to increase competition for the Frenchman moving forward, it appears as if Raheem Sterling may be Wenger's primary transfer target with his increasingly unsavoury contract saga at Anfield unlikely to be settled any time soon.