The Sun reports that Arsene Wenger is hoping to price the 23-year-old out of a move to Barcelona.
Barcelona were hoping to sign the Spanish international in a £30million deal before the World Cup.
A top Arsenal source told The Sun: “This could go all the way to August 31 and it won’t help anyone.
“The ‘will he, won’t he’ situation could be similar to the one we had with Patrick Vieira almost every summer until he went to Juventus.
“But of course the consequences of a late deal could be serious, particularly for Arsenal. Their planning for the season will be compromised since there will not be time to find and, more importantly, bed in a replacement.”
