Brighton and Hove Albion have rejected Arsenal’s second bid for Moises Caicedo, but the Gunners haven’t given up on the deal yet.

On Sunday night, Arsenal submitted a £65m plus £5m bid for Moises Caicedo of Brighton and Hove Albion, but the offer was immediately rejected as Brighton continued to insist that the 21-year-old is not for sale.

This £70m package was Arsenal’s second offer, having previously submitted a bid of £60m fixed.

Simon Collings reports that Arsenal still haven’t walked away from talks, despite their lack of success so far. But they’re yet to make a decision over a third bid, and Brighton’s stance remains that he’s staying.

Sami Mokbel of the Daily Mail reports that Arsenal will consider walking away from a deal for Caicedo after their latest offer was turned down.

Nizaar Kinsella adds that an £80m bid would be hard to resist, though it would also represent a club-record fee for Arsenal.

Fabrizio Romano confirms that Arsenal’s third bid may have to be a club-record offer if they plan to make one.

A deal for Caicedo getting over the line in the next 35 hours looks very unlikely now, and you’d imagine Arsenal and Brighton would have to come to some sort of consensus today in order to finalise the move by 11pm on Tuesday.

It remains to be seen if Arsenal have a backup plan if that doesn’t happen. If not, the fans will be sweating on the fitness of the first-choice midfielders for the next few months.