The 15-year-old Barca academy star was reported by the Daily Mail as having signed for Arsenal on July 23rd, following the path of Cesc Fabregas from the Nou Camp to the Emirates Stadium.
The Germany youth international is highly rated and was earmarked as one for the future at Barcelona, but the teenager had a number of offers on the table to leave.
Reports claimed Arsenal had won the race, but on his Twitter account Spanoudakis appeared to confirm that he's joined Stuttgart instead.
One YouTube user even jumped the gun and made a "Georgios Spanoudakis - Welcome to Arsenal" video. And here it is...
Better get that changed to Welcome to Stuttgart.
Spanoudakis revealed the move when he retweeted a Tweet which read: "My brother @GioSpanoudakis signed with VFB Stuttgart! I am very happy for him! Trust me, he is the new Ozil!"
The under-17 international has been dubbed the 'next Ozil' in the press, and returns to Germany, the country he left five years ago after starting his footballing education with Eintracht Frankfurt.
On his Facebook page he wrote: "Happy to have reached an agreement with a great club like VfB Stuttgart. Can't wait to start the season. Thanks to Barcelona for the 5 unforgettable years."
Spanoudakis has also changed his Twitter avatar to a picture of the Stuttgart club badge.
The murky nature of under-18 player transfers across Europe means it is no surprise that so many media outlets - including GiveMeSport - got it initially wrong with regards to Spanoudakis.
The news of his signing for Arsenal was covered widely across English media outlets, including in the Daily Mail and The Metro.
The exact rules surrounding player transfers for teenagers yet to sign their first professional deal means it was likely that Arsenal never had anything more than a verbal agreement with the Germany youth star.
But rather than join the Premier League club, he has instead opted for a return to his home country.