Double blow for Arsenal's hopes of receiving cash boost from Eddie Nketiah

Arsenal’s plan to increase their transfer funds through the sale of Eddie Nketiah to Marseille has been dealt a significant setback.

The Gunners’ summer spending is likely to hit the £100 million mark once a deal for Real Sociedad midfielder Mikel Merinio is confirmed.

Mikel Arteta has identified the Spain international as the perfect candidate to strengthen his engine room and a £25m fee is close to being agreed with Mikel Sociedad.

Arsenal have already shelled out £27m for goalkeeper David Raya and a further £42m on Italy defender Riccardo Calafiori.

Arteta is understood to want to add a centre forward to his ranks with Arsenal currently reliant on Kai Havertz and Gabriel Jesus.

The sale of Nketiah would raise some much needed funds that would go towards a bit for one of of Victor Osimhen of Napoli or Sporting Lisbon’s Viktor Gyokeres.

Marseille have been locked in negotiations with Arsenal for the best part of a month over a move for Nketiah but talks appear to have reached stalemate.

Arsenal are understood to be holding out for an offer of at least €35m plus a sell-on clause.

The Ligue 1 side submitted their latest offer on Friday but it fell at least €8m short of Arsenal’s valuation of the England international.

Hopes of reaching an agreement hit a further snag on Saturday when it emerged that Marseille were closing in on a deal to sign Youssoufa Moukoko on loan from Borussia Dortmund.

As many as five clubs across Europe had registered an interest in the teenage forward but Marseille, who have already signed Mason Greenwood from Manchester United last month, have won the race.