Crystal Palace have turned down an improved offer of up to £65million from Arsenal for Wilfried Zaha, according to the Independent.
The deal would have seen Arsenal pay £55m upfront with a further £10m in possible add-ons.
Intriguingly, winger Reiss Nelson was also offered to the Eagles on loan as a temporary replacement for Zaha.
However, Palace are remaining resolute and maintain that the offer falls well short of their valuation, believed to be £80m.
The players involved
Though they have proven steadfast in negotiations, Palace are thought to be keen on adding some of Arsenal's young talent to their ranks.
19-year-old Nelson has seen his stock rise after an impressive loan spell at Hoffenheim in the Bundesliga, during which he scored seven goals.
Another youngster who could be used as leverage is left-sided winger Bukayo Saka, who has thus far been restricted to four appearances for Arsenal's senior side despite his scintillating form at youth level.
Palace want both a loan and a permanent move included in the package.
Right-back Carl Jenkinson might be a useful component of the deal following the loss of Aaron Wan-Bissaka to Manchester United.
The 27-year-old has been loaned out by the Gunners on three separate occasions and may be keen on the move provided it comes with assurances of ample minutes.
Despite Palace's evident reluctance to part with their most prized asset, the report claims that 'there is a feeling the deal will eventually happen'.
This is after Zaha, keen to prove himself at the top level, made known his desire to leave Selhurst Park.
Arsenal, the club he supported as a child, is said to be his preferred destination.
With Unai Emery having identified the Ivorian as his top target and Palace holding out for a deal that would shatter Arsenal's transfer record, this saga could conceivably run until the end of the transfer window.