Schalke general manager Horst Heldt has confirmed that Arsenal did make an official enquiry for Julian Draxler during the January transfer window, reports Sky Sports.
The Germany international was heavily linked with a move to north London last month, as the Gunners looked to follow up the summer arrival of Mesut Ozil with another marquee signing.
Arsene Wenger was alleged to have put a big money offer on the table in a bid to lure the 20-year-old to the Emirates Stadium, however, the Bundesliga club were swift to reject Arsenal's advances.
"Arsenal officially enquired about the services of Julian Draxler during the recent transfer window," confirmed Heldt in an interview with Sport1 media. "[But] we did not want him to leave.
"Of course, it was big money on offer, but still it was not enough for us."
Draxler is under contract at the Veltins-Arena until 2018, but still has a £40million buy-out clause written into his current deal, according to the Daily Star.
If Arsenal are serious about signing the talented playmaker, then they may be forced to meet that valuation, but despite the uncertainty surrounding the player's future, Heldt is confident that Draxler will still be playing for Jens Keller's side next season.
"I am convinced Julian will be playing at Schalke past the end of the season," he continued. "We are able to offer him enough ambition."