Arsenal have not submitted a bid of €80m for Everton target Nicolas Pepe, according to the BBC.
It has been claimed in France that the Gunners have gone big for the Lille winger by putting in an offer of €80m to take him to the Emirates Stadium.
Pepe is hot property this summer and has been linked with a host of clubs, including of late Everton.
However, in a boost for the Toffees, it has been suggested that Arsenal have not put in an offer of €80m for the Ivory Coast international.
The Gunners are also claimed not to have the financial resources to submit such a bid.
Arsenal have regularly been linked with Pepe over the course of the last 12 months, but the odds are against them being able to sign him this summer.
Pepe has been in action at the Africa Cup of Nations for the Ivory Coast this summer.
The winger has not made any decision yet over his future, but is expected to mull his options over the coming weeks.
