Arsenal may be forced to 'go back in' for Pedro Neto in the future as Wolverhampton Wanderers will not sanction a move to the Emirates Stadium ahead of the transfer deadline, according to Sky Sports reporter Dharmesh Sheth.

The Gunners have not been afraid to splash the cash, having already spent close to £120million, but boss Mikel Arteta could still draft in further reinforcements ahead of the 11pm deadline on September 1.

GiveMeSport Transfer Latest

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What's the latest news involving Neto?

According to The Athletic, Neto has been identified as Arsenal's top winger target if Nicolas Pepe leaves north London ahead of the transfer window slamming shut.

The report suggests discussions over the three-cap Portugal international have been taking place for more than a month, while agent Jorge Mendes has been liaising with the Gunners and Wolves separately.

However, Neto only signed a new five-year contract at Molineux in March, which means his current employers are in a strong negotiating position.

As a result, Wolves could reportedly demand as much as £50million for the 22-year-old, with the West Midlands outfit keen to hold onto their star man.

Although Neto has revealed that he is flattered by interest from Arsenal, he has maintained that he remains fully focused on enjoying success with Bruno Lage's Wolves.

What has Dharmesh Sheth said about Neto?

Sheth understands Wolves are adamant that Neto's departure will not be authorised ahead of the September 1 deadline.

With that being the case, the Sky Sports reporter believes a move for the Portuguese star may have to be put on the back-burner before Arsenal potentially test their resolve further down the line.

Sheth told GIVEMESPORT: "As far as Wolves are concerned, he's not going to be sold in this transfer window. That's the information I was told - this transfer window.

"Maybe in the future, Arsenal could go back in. Who knows? Neto could be the longer-term target, but there is definitely interest to strengthen that forward line."

Would Neto be a good signing for Arsenal?

Neto is closing in on 100 appearances for Wolves, so he would not need time to adjust to the rigours of the Premier League and that will be an attraction for Arteta during the final stages of the transfer window.

The former Lazio wide-man has also earned praise from former England striker Alan Shearer, who has claimed that Neto is a 'huge talent'.

If that does not emphasise that he is capable of making a huge impact at Arsenal, then his tally of 24 goal contributions during the early stages of his senior club career certainly does.