The offer ‘fell well short’ of what Sporting want for 17-year-old Joelson, one of their great promises.
Joelson has a release clause of €45m and in principle that is the only amount Sporting will accept.
However, Arsenal are well aware of Sporting’s delicate financial situation and are testing the resolve of the Lisbon club.
The Gunners believe they can get Joelson for under €45m while still giving Sporting a big profit on their youth product.
Joelson spent much of the season in Sporting’s under-23 side, but made four first team appearances after the Portuguese restart.