Valencia president Anadeo Salva has told Arsenal they will have to pay £25m if they want to prise goalkeeper Vicente Guaita away from the club.
Recent reports have suggested that Arsenal representatives have flown to Spain to thrash out negotiations.
Guaita is said to be angry at being left on the bench for Valencia's season opener against Malaga and is keen on a swift exit.
Arsenal have pushed to the front of the queue should the 26-year-old submit a formal transfer request.
Guaita would not be a certain first choice at the Emirates but he will undoubtedly get the chance to prove himself as Arsene Wenger continues to have doubts over Wojciech Szczesny's credibility as Arsenal's long-term No.1.
However, although Salva confirmed the 'keeper is unsettled, he did say the club are not prepared to lower their asking price.
He told Spanish newspaper Las Provincas: "Guaita is a world class keeper and Valencia has no need to sell. To allow him to go, we would have to study the price.
"Currently the value is 30 million euros (£25million). At Valencia, what you want is to continue, although his agents have reported that if you are a substitute, you had better find a way out.
"This last point does not sit well with the board. Players can not fall into that temptation to go after every game with this type of attitude.
"If you do not play every week, you have to respect Valencia more."
Arsenal have also been linked with unsettled Real Madrid star Iker Casillas but it is believed the Spanish national captain would prefer a move to Manchester United if he were to exit the Bernabeu.