Arsenal would need to pay around £7m for Toby Alderweireld if the club showed serious interest in the Ajax star, according to director of football Marc Overmars.

Alderwiereld has been the subject of a large amount of transfer gossip this summer as the defender enters the final 12 months of his deal with Ajax. Liverpool were believed to be the frontrunners but it is only Norwich and Atletico Madrid who have submitted offers.

Arsenal recently came into the picture as the side plan to boost their defensive line-up, with Arsene Wenger reportedly looking to finally make use of the large amount of cash available to him this summer.

But Overmars insists that after rejecting an offer from Atletico for Alderweireld, Arsenal need to be aware that if they hope to land the 24 year old they will need to pay the full price.

"We have rejected the offer from Atlético Madrid for Toby Alderweireld," he explained. "We were contacted this weekend but it was not considered sufficient for a player of the national team of Belgium.

"[Arsenal] would need to pay the asking price, if we were to let one of our players go."

Ajax recently accepted an offer from Norwich of nearly £7m for Alderweireld, indicating that this is indeed the price that they will allow their captain to leave for. But the Belgium international, who will be hoping to get maximum game time next season in preparation for the 2014 World Cup, insisted that he wanted to join a top club in the Premier League rather than a mid-table side and turned down the move to the Canaries.

Arsenal would be able to meet his ambitions of playing in the Champions League, bar a collapse against Fenerbahce, and though they have gone eight seasons without a trophy, Arsene Wenger insists that this campaign the side are determined to end that statistic once and for all.