Arsenal have rejected a £20million bid from Leicester City for 22-year-old defender Calum Chambers, according to reports.
The Foxes reportedly tabled two bids for the former Southampton man on Wednesday, and both were turned down by the Gunners.
It is claimed Arsenal have slapped a £28m price tag on the youngster, who they signed from Southampton for £16m in 2014.
Chambers has been out-of-favour at the Emirates Stadium and spent last season on loan at Middlesbrough, where he impressed.
Upon his return to north London he was told he was surplus to requirements and was free to leave.