Swansea City have reportedly informed Arsenal they must pay around £12m in order to sign defender Ashley Williams in this transfer window.
With Thomas Vermaelen sidelined and Johan Djourou and Ignasi Miquel away on season-long loans, the Gunners are short at the back and have only two fit senior centre-backs in their ranks.
Arsene Wenger is in the market for an experienced defender and, according to the Mirror, the Frenchman tabled a £6m offer for Williams. The report claims the Swans have knocked back the bid and told Arsenal they must stump out close to £12m, if they want to sign the Welshman.
The Gunners' reluctance to make an offer near their valuation for Williams is understood to have annoyed Swansea, with club chairman Huw Jenkins now threatening to pull the plug on the 28-year-old's sale this summer.
Williams is known for his leadership qualities on the pitch and has rarely missed a matche, either due to injury or fitness, over the last five years. He started 37 Premier League matches for the Swans last term and also the season before, after leading them to the top flight.
Meanwhile, Wenger admitted Arsenal are short on numbers at the moment but insisted the club will only sign quality players who will improve the squad.
The French tactician has been under immense pressure of late due to the Gunners' lack of activity in this transfer window, despite the club declaring earlier in the summer they have the finances to make massive signings.
"I don't disagree that we are a bit light but there are 18 days to go in the transfer window. We are of course looking to strengthen our squad. We'd like two or three players and if possible more but we will not compromise on the quality of the players," Wenger pointed out.
Arsenal lost the race for yet another transfer target on Friday, as Brazil midfielder Luis Gustavo completed his move from Bayern Munich to Wolfsburg.