Arsenal manager Arsene Wenger has confirmed that he has put and end to his pursuit of Udinese midfielder Gokhan Inler and will target a player with "special class" instead.
The Gunners boss had been widely tipped to trigger the Swiss international's buy-out clause with an £8 million bid but Wenger has now turned his attention elsewhere.
Asked if he was interested in signing the talented 24-year-old midfielder as a replacement for Mathieu Flamini, who signed for AC Milan in May, Wenger said: "Yes, in the summer. But not any more."
Instead, Wenger will turn his attention to signing a world-class player who may be currently cup tied for this season's Champions League but could benefit the club in the Premier League.
Wenger said: "I feel that if we do add somebody, we add somebody who has a special class.
"And I would like to think longer term than just whether that player is eligible for the Champions League this season."
The Arsenal boss' comments has lead to much speculation in the UK press that he was alluding to a £20 million move for Russian star Andrei Arshavin.
Arshavin has already represented Zenit St Petersburg in this season's Champions League and Wenger is reported to be an admirer of the want-away 27-year-old.
The arrival of the Russian forward would provide a much needed morale boost to Wenger's young squad following the long-term loss of injured skipper Cesc Fabregas.
And although the Gunners boss said last week he would not spend "silly money" on transfers club chairman Peter Hill-Wood has suggested there is money to spend.
Meanwhile, midfielder Jack Wilshere has signed a professional contract with Arsenal.
Wilshere, who turned 17 on New Year's Day, became the youngest player to represent the Gunners in league football when he came off the bench against Blackburn in September.
Manager Arsene Wenger said: ''We are delighted Jack has signed a professional contract with us.
''He is a player with great potential, with an ability to find the final ball and also score goals.
''Jack is a passionate and committed young player, he is not afraid of tackles and I am convinced he will have tremendous penetrative power in a few years.
''We have already seen his qualities in both his first team performances and in training on a regular basis, and we look forward to Jack being an important part of our first team for years to come.''
Wilshere scored his first Arsenal goal in their 6-0 Carling Cup win over Sheffield United in September and is also the youngest player to have turned out for Arsenal in Europe.