Arsenal reportedly still have interest in signing Cristian Pavon from Boca Juniors and have opened talks with the Argentinian club, according to reports.
Former Arsenal chief executive Ivan Gazidis was reportedly interested in the winger before his exit to AC Milan.
However, it is understood that the London club remains interested in the 22-year old, who represented Argentina in the 2018 World Cup in Russia.
TEAMtalk reports that Club president Daniel Angelici values the Argentina international at £44m, a fee Arsenal are willing to meet.
Arsenal are currently sitting in seventh place in the Premier League, after earning just nine points from their opening five games of the season.