Former Lille sporting director Luis Campos is being linked with Arsenal.
Italian journalist Loic Tanzi reports Campos will not join Nice following weeks of speculation.
Both Arsenal and Real Madrid are now believed to be interested in acquiring the 56-year-old's services, although it is unclear if he will be hired as a director of football or scout.
The talent spotter, who is also believed to be wanted by Real Madrid, was director of football at Monaco when Kylian Mbappe was discovered.
