Robin van Persie will hold crunch talks with Arsene Wenger this week, as Arsenal insist they are not "in the remotest bit" interested in selling him.
Italian champions Juventus claim they have had a rock-bottom £8million approach for van Persie turned down, but the Gunners claim they have not had an offer and will fight to keep their captain.
Juve are only prepared to go up to £15m for the 28-year-old Dutchman, who only has 12 months left on his current deal.
Manchester City are also poised to move in for van Persie this week.
Van Persie is on holiday after playing at Euro 2012, but is planning on talking to Arsenal manager Wenger by phone this week.
He has already made it clear he will not sign the new £130,000-a-week, three-year contract the Gunners are offering.
Meanwhile, Arsenal chairman Peter Hill-Wood said: “As far as I am aware, nobody has made any offer for him and he is away so we are not in any dialogue at all.
“We are not in the remotest bit interested in selling him.
Despite Hill-Wood’s stance, Arsenal face a dilemma over whether to sell van Persie this summer or lose him on a free at the end of the coming season.
They are prepared to hold van Persie to his contract unless a) the transfer fee offered becomes too much to turn down and b) the Dutchman makes it clear he will sulk his way through the final year of his deal.
Unless Juventus increase their offer, City are the only serious contenders.
Although Paris Saint-Germain and ambitious Russian side Anzhi Makhachkala are also in the frame.
Arsenal sold midfielder Samir Nasri to City last summer when he only had a year left, and now face the same situation with van Persie.
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