Arsenal has missed out on the signing of Julian Draxler after he extended his contract with PSG.
The German had looked to be on his way out of the French side for much of this season, after falling out of favour under Thomas Tuchel.
However, he has returned to form under Mauricio Pochettino and played regularly in recent weeks.
He was inside the last few weeks of his previous deal and looked set to leave them.
Arsenal has been keen to land him for much of the time that Mikel Arteta has been their manager.
With the Gunners looking for a creative midfielder, they considered a move for him in the January transfer window.
They would have been planning to try again in the next transfer window, but the Daily Mail says he has signed a new deal that keeps him in Paris until 2024.
This means Arsenal will turn their attention towards other transfer targets.
After signing, Draxler said as quoted in the same Daily Mail report: ‘I love this club and the city of Paris.
‘It’s a pleasure to play with very great players, for a team like this. I am very happy to have extended [my contract] here.’