Arsenal failed in a deadline day bid to bring Mario Gotze to England from Borussia Dortmund, according to reports.
German publication Kicker claims the Gunners tabled a €40 million bid for the player, an offer which was flatly rejected by last season's Bundesliga winners.
The 19-year-old sensation has earned seven caps for the national side already, and made his senior debut at Signal Iduna Park back in 2009.
Despite interest from a handful of clubs across Europe, a move to the Barclays Premier League never seemed like a possibility, with agent Volker Struth confirming his client was happy with BVB less than 24 hours before the reported Arsenal bid.
"Mario will stay at Dortmund, for sure, the next two years," said Volker Struth.
"There is no chance of him going to another club this window. This is because he is so young and it is too early in his career for him.
"The club, the player and his family, we are all of one mind that it is better for him to stay there because he is happy at Dortmund."
The Gunners instead turned their attentions to Spanish playmaker Mikel Arteta, bringing the 29-year-old to the Emirates stadium in the closing stages on deadline day.
Arteta was one of five additions at Arsenal in the final days of the transfer window, with Andre Santos, Per Mertesacker, Park Chu-Young and Yossi Benayoun also making the switch to north London.
Whilst the signing of Gotze would have been a coup for Wenger, the Arsenal boss is likely to be happy with his business and looking to mount a recovers in the league after last weekend's 8-2 defeat at Manchester United.
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