Arsenal have reportedly made an £18 million pound bid for La Liga star.
Arsene Wenger is keen to add Malaga's Santi Cazorla to his squad for next season and is now waiting for an official response from Malaga.
However, it is thought that the bid will be rejected as Malaga would want much more for the player. Malaga have been banned from buying players until their financial crisis is sorted out which makes the move even more unlikely as the club would not be able to replace Cazorla.
Malaga's Qatari's owners have sent in executive Moayad Shatat to sort out their crisis. But a deal of any kind is unlikely to happen before order is restored.
Arsene Wenger has long been an admirer of the Spanish international and will be keen to get his man, but not at any cost.