Monaco have rejected Arsenal's £87m bid for Kylian Mbappe
Arsenal launched an audacious £87million bid for Monaco striker Kylian Mbappe this week after he claimed he could leave this summer.
The 18-year-old striker admitted he was "not afraid" to depart the club despite winning the Ligue 1 title this season.
The Gunners offer was the third the French club have received, including a record-breaking £105m bid from Real Madrid.
However, the Telegraph claim Monaco have knocked back both approaches as they remain determined to keep hold of their star man.
Kylian Mbappe is also a target for Real Madrid
The report claims the Ligue 1 champions are keen to get Mbappe to sign a new deal to ward off any further transfer interest.
The teenager's current deal has just two years left to run and Monaco would rather he penned a new long-term agreement with them.
Arsenal's approach for Mbappe was first revealed by French outlet L'Equipe yesterday and The Telegraph claim they have since had it confirmed by senior sources.
Arsene Wenger is said to be keen to sign the young striker and build a squad around him after extending his stay at the Emirates for a further two years.
Arsenal line-up next season with Kylian Mbappe Fri, June 2, 2017
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Despite the Gunners' bid being considerably less than Real's it is claimed the Premier League side's offer was structured differently.
And the north London club were hopeful they may be a more attractive proposition to Mbappe than Real, offering him regular first-team football.
Speaking about leaving Monaco this week, he said: "There is an awful lot of time ahead to think about all that.
"There are three important matches coming up [for France], I will take stock after.
"Why would I play less? [If he moved away from Monaco]. I will have the time to think about all that, but no, I am not afraid of leaving."