Arsenal reportedly failed to secure Barcelona youngster Riqui Puig on loan before they went to Real Madrid for Martin Odegaard.
Manager Mikel Arteta used the loan to beef up the creativity he has on offer in central midfield.
Odegaard will be with the Gunners for the rest of the season.
According to transfer expert Fabrizio Romano, the Gunners tried to secure Puig, but were denied by Barcelona.
"Let's go back to the Premier League and let's reveal the behind the scenes of the past transfer window between two clubs, one is Barcelona and one is Arsenal." Francesco Porzio, Romano's co-host on his podcast, said.
Before Romano added: "At the start of the window Arsenal were seriously trying to sign Riqui Puig on loan with a buy option, in a similar deal as Odegaard, also with Riqui Puig at Barcelona.
"Barcelona said let's see with Koeman, if he wants to keep the player if he wants to play, let's wait some weeks. Then in the middle of January they said no, Riqui Puig is not moving, we are keeping him."
