Arsenal have rejected a €10 million (£ 8million, $12.5 million) bid from Juventus for Robin Van Persie, according to reports in the Italian media, but chairman Peter Hill-Wood denied receiving any bids.
According to the Gazzetta dello Sport, Juventus made their first move to bring in Arsenal's captain with the official bid, but will need to increase it if they are to stand any serious chance of signing Van Persie.
The Dutch striker is reluctant to commit his future to Arsenal despite having a reported three-year deal on the table worth £130,000 a week ($203,000), along with a £5 million signing bonus.
Van Persie, who will turn 29 in August, has only one year on his contract remaining, but Arsenal are not likely to sell their prized asset for less than £20 million ($31.5 million).
However, Hill-Wood denied reports of a failed €10 million bid from Juventus.
"As far as I am aware, nobody has made any offer for him and he is away so we are not in any dialogue at all.
"We are not in the remotest bit interested in selling him," Hill-Wood is quoted as saying in the Daily Mirror.
It is understood the Gunners are still hoping their captain will sign a new deal and commit his future after Arsene Wenger made his intentions clear for next season by already wrapping up the signings of experienced German international Lukas Podolski and the highly-rated Olivier Giroud with at least a couple more expected to arrive. Van Persie is expected to continue talks with Arsenal on the phone, while the Dutchman continues his holiday after a disappointing Euro 2012.
Asked if Van Persie would move to Juventus by an Italian journalist during Euro 2012, Wenger said he was absolutely confident his captain would remain at the club as he didn't see how Van Persie would be okay with playing in the Italian Serie A, which is considered inferior in quality to the English Premier League. Wenger even bet a caramello (an Italian ice cream) on it.
Arsenal, if they are forced to sell, are hoping for £25 million, but if push comes to shove, might settle for a little over £20 million.
Manchester City and Paris St Germain have also been credited with interest in signing the Dutch striker, who scored 37 goals in all competitions last season.