Arsenal has already lost transfer targets, Emi Buendia and Patson Daka in this window and they could be set to lose another attacking target.
Reports have linked the Gunners with a summer move for Eintracht Frankfurt striker, Andre Silva.
The Portugal international scored 28 goals from 32 Bundesliga games last season for the Frankfurt club.
His form attracted the attention of Arsenal, who could sell Alexandre Lacazette and Eddie Nketiah this summer.
Their summer transfer budget remains unclear, but they have been linked with moves for a number of players recently.
If they are serious about signing Silva, then they would likely face disappointment in their bid to take him to London.
This is because Todofichajes reports that the former Sevilla man is joining RB Leipzig this summer.
The Germans finished second in the German top flight last season and they want to strengthen their squad to ensure that it remains competitive next season.
The report acknowledges that he had interest from teams all around Europe, but he has decided to remain in Germany.
Leipzig will pay €23M for his signature, a fee that represents a bargain for his form last season.
He becomes the latest Arsenal target not to make the move to the Emirates this summer.