Arsenal reject £8million midfielder bid

Arsenal have rejected a £8million bid from Atletico Madrid for Jose Antonio Reyes.

It had been rumoured yesterday that they had stepped up a bid for the midfielder but has recently been rejected by Arsenal who value the player much higher than that.

Reyes is now set to stay at Arsenal for the rest of the season, something that people didn't think they'd see.

"Our proposition was presented to Arsenal last week, but the English club have not moved forward," said Pitarch.

"The situation is complicated by the financial differences between the two clubs.

"Now the operation has stopped and we are studying other options."