Arsenal were set to complete a deal to sign Marco Reus from Borussia Dortmund for £28m before the World Cup.
But according to The Metro, who cite reports from Spanish journalist Kike Marin, Arsenal pulled out of the deal after Reus suffered ankle ligament damage just prior to the World Cup.
Reus contract situation
Reus has since been linked with the likes of Manchester United and Liverpool after the Germany international rejected the offer of a new contract from Dortmund.
That means a move could still be on the cards before the close of the summer transfer window in September despite Reus's injury. But while Liverpool and United are now thought to be the frontrunners, back in June it was Arsene Wenger.
The French boss was looking for another attacking player to strengthen his hand ahead of the new season, and had identified the £28m-rated (€35m) Reus as the perfect addition to his young, technically gifted Arsenal squad.
The Gunners already have a German core with internationals Per Mertesacker, Lukas Podolski and Mesut Ozil first-team regulars. Sami Khedira has been linked although the Real Madrid star's wage demands are proving a stumbling block.
Once Reus was ruled out with injury, Wenger turned his attention to other targets and the Gunners boss eventually signed Alexis Sanchez from Barcelona for a similar fee.
Liverpool and Manchester United meanwhile are still looking for that big-name recruit in the attacking position. United are thought to be looking at Angel Di Maria and Edinson Cavani while Liverpool's deal for Loic Remy collapsed after problems over his medical.
The Reds are looking for a 'marquee' signing and Reus would fit that bill.