Despite a loan bid on deadline day, Ivan Fresneda is staying at Real Valladolid until the end of the season, before planning a summer move.

Arsenal-linked Ivan Fresneda was the subject of a deadline-day loan bid for his services, but Fabrizio Romano reports that he’ll stay with the Spanish club until the end of the season.

Romano confirms that Fresneda won’t be joining Arsenal or Borussia Dortmund. He’s staying at Real Valladolid, and he’ll get a move to a top club in the summer.

Both Arsenal and Borussia Dortmund wanted to sign Fresneda in January, and both were seemingly open to letting him return to Valladolid on loan until the summer.

But the deal was never done, and he’s now expected to review his options again in June.

A number of other clubs had been chasing Fresneda, including Newcastle United. It’s possible those clubs will now re-enter the race over the summer.

The exact reasons why Fresneda’s potential exit this month didn’t happen aren’t clear, whether it was a decision by the player, or if neither Arsenal nor Dortmund ever reached a total agreement with Valladolid.

The primary consequence of Arsenal failing to do a deal in January is that they may face heavier competition in the summer. But other than that, there are few downsides.

The player was going back on loan until summer anyway, and a summer deal would still be soon enough to qualify him as homegrown in the Premier League by the time he’s no longer eligible as an under-21.

Whether Arsenal will go back for Fresneda is another matter, as the Gunners have generally avoided pursuing the same targets in consecutive windows.