Despite the German media claiming for a while that Arsenal had packed up a Granit Xhaka offer worth €43m, on Thursday Bild say they've found out the actual offer the Premier League club have submitted to Borussia Monchengladbach is just €25m.
Gladbach clearly aren't happy to sell their captain and arguably best player for that amount, and have therefore informed Arsenal that it won't be accepted. Bild say Gladbach will do business at something around €40m, still not a bad price for the Swiss midfielder.
If Bild are correct then Arsenal's first bid seems very on the low side, it's one thing trying to get a good deal and quite other going in that low. Xhaka has a contract with Gladbach until June 2019 and if the price was as low as €25m then surely there'd be far more clubs interested in a deal.
Xhaka clearly wants the move, Arsenal have the money, this shouldn't be a complicated transfer, but there's every chance other clubs could come in if this one isn't closed quickly.