Malaga have told Arsenal they will have to part with more than the quoted £20m for star player Santi Cazorla, according to the Metro.
Speaking to assembled Spanish journalists, the 58-year-old said: “To sell Cazorla for €20 million would be to give him away. I don’t think the club intends to do that.”
Malaga are currently suffering various financial problems, despite Qatari owner Abdullah Ghubn financing many big money moves for players last season, with the owner flying back to Spain to pay off debts and a tax bill owed to the Spanish government – debts which could threaten the club’s top-flight status.
Arsenal will now have to decide whether to pursue their reported interest in Cazorla, who is rumoured to be keen on a move to the Premier League this summer.
When quizzed on whether the Spanish side would accept bids for Cazorla, Pellegrini responded: “I’ve talked a lot with Abdullah Ghubn and with the Sheikh and this would not be representative of their mentality. It would send out the wrong signal ahead of our Champions League campaign. If significant offers come in for players they are worthy of consideration, but I don’t think Santi will be leaving for €20 million.”
With Robin van Persie rumoured to be leaving this summer, Arsene Wenger would have a substantial transfer kitty to spend if he so wished, but it is not known whether Wenger and Arsenal value Cazorla more than €20m.