Saint-Etienne president Roland Romeyer has stressed that the club are under no obligation to sell William Saliba to Arsenal.
The Gunners are on the hunt for a central defender this summer and Unai Emery has identified Saliba as a target along with the likes of Dan-Axel Zagadou and Joachim Andersen.
Reports last week claimed that Arsenal had an offer of €23m bid plus €7m bonuses rejected by Saint-Etienne for Saliba, with the Ligue 1 outfit demanding at least €30m for the 18-year-old Frenchman.
There have also been rumours that Arsenal would be prepared to loan Saliba back to Saint-Etienne next season in order to sweeten a potential deal.
However, it appears the north London giants will be unsuccessful in their pursuit of Saliba after Saint-Etienne’s president brushed off speculation of a move.
‘William is under contract with Saint-Etienne until 2023,’ Romeyer said.
‘He likes it here and wants to play European football with the club that grew him at youth level.
‘I understand that he is a wanted man due to his talent and the qualities that he showed last season.
‘That also highlights the value of all the work done in our youth academy in perfect harmony with the coaching staff of the first-team.
‘Other youngsters will soon burst onto the scene. Our youth set-up is part of the DNA of the club and we are constantly putting more resources behind it as evidenced by the considerable renovation works that are currently being undertaken.
‘To come back to William, we are under no obligation to sell him to another club, nor are we in some urgent financial situation.’
Saint-Etienne’s manager Ghislain Printant has also poured cold water on rumours of Saliba joining Arsenal.
‘The sale of Saliba is not an absolute necessity,’ he said.
‘There is no urgency (to do so). He is courted by clubs. From a sporting point of view we want to keep him next season and that’s his wish too. He still has room for development.
‘We will see. Our goal is for him to be with us again this season.’