Transfer news: Arsenal warn Atletico Madrid that Santi Cazorla is not available at any price

The Spanish side are hopeful of signing the midfielder

Santi Cazorla (GETTY IMAGES)

Arsenal have warned Atletico Madrid off a move to sign Santi Cazorla - telling them the midfielder is not available at any price.

The Spanish side lost out to Arsenal when Cazorla was sold by Malaga 12 months ago, but are ready to make another attempt to sign the Spain international according to reprts today

Following the £50m departure of Radamel Falcao to Monaco this summer they have money to spend, and despite adding David Villa to the squad, are eager to make more additions.

A representative of Atletico was reportedly in London to negotiate a deal and reports in Spain suggest the player has agreed terms. However, Atletico president Enrique Cerezo has denied this, telling Marca.com: "We have no news of Cazorla. These are invented stories that are made up every day."

Whatever Atletico's position, Arsenal are adamant that Cazorla, 28, is a key part of their plans and is not available at any price.

Arsenal are hoping Cazorla can help them end their trophy drought and are looking to strengthen the squad, with £70m in transfer funds available to manager Arsene Wenger.