Arsenal unwilling to pay €17m Bayern Munich asking price for Luiz Gustavo [Bild]

German newspaper Bild have reported that Arsenal and Bayern Munich are still some way short of agreeing a fee for Brazilian midfielder Luiz Gustavo.

Over recent days, Arsenal’s interest in Gustavo has been confirmed in both the English and German press with a reported bid lodged of around 15 million euros.

Bild suggest Arsenal are the most likely destination for Gustavo but the Gunners are a little short of Bayern’s current valuation of the player which is between 17 and 20 million euros.

Besides Wolfsburg, Atletico Madrid and Napoli who have also been linked with the Brazilian, Bild add that Dynamo Moscow have now joined the race but their lack of European football could count against them.

Gustavo is quoted by Bild as saying: “My situation at Bayern is really complicated. I have a contract until 2015, and therefore there is no reason to despair. But I want to be a club where I can play.”

South American expert Tim Vickery believes Luiz Gustavo would be “an excellent” signing for Arsenal, see video below.