Arsenal and Manchester City will miss out on exciting young Italy forward Stephan El Shaarawy, as he set to sign a new AC Milan contract.
According to Corriere dello Sport, the Serie A side are keen to secure the future of the 20-year-old and will extend his deal until 2018.
Arsenal manager Arsene Wenger has publicly admitted his admiration for the 17-goal striker and was linked with a possible bid.
However, Manchester City manager Roberto Mancini has also been credited with an interest but it now appears both Premier League clubs will miss out.
Interest in El Shaarawy is understandable as he has been in terrific form this season, helping to fill the void up front left by the sale of Zlatan Ibrahimovic to PSG.
The report in Italy claims the deal to keep ‘The Paraoh’ at San Siro is yet to be signed but terms have been agreed in principle.