Arsenal declined to trigger Eberechi Eze’s £68 million release clause, which expired late on Friday, opting instead to test Crystal Palace’s resolve later in the window in an attempt to lower his price.
The clause was understood to include a £60 million fixed fee with performance‑related add‑ons amounting to £8m.
Arsenal, however, reportedly value the England international at under £60 million and believe his contract position, with under two years remaining, could force a lower fee as the window nears closing.
Eze is currently valued at £48m on Transfermarkt.
The 27-year-old has already held talks with Arsenal, speaking directly with sporting director Andrea Berta and Mikel Arteta, and is thought to be open to a move to the Emirates with no concerns over personal terms.
Arsenal are understood to want at least one forward departure before committing to another major attacking purchase.
Palace are thought to want at least £35 million upfront as part of any deal and a total package similar to the now‑expired clause, but Arsenal believe they are in a strong position.