Mariano Diaz does not fancy a move to Arsenal.
Real Madrid are keen to offload the striker in order to raise funds for other transfers.
Arsenal have been offered the striker for just 18m, despite Real paying 30m for Diaz only a year ago.
However, AS says Diaz would prefer to stay in Spain and fight for a place in Zinedine Zidane's plans.
Roma and AC Milan are also monitoring the 25-year-old.
