Arsenal have reportedly failed with their initial bid for Leicester City youngster Jeremy Monga.
The 16-year-old currently has a contract that will see him sign a professional deal on his 17th birthday on July 10.
While Leicester would want to keep such a highly-rated prospect, they need to raise funds to comply with the EFL's cost-control measures following their relegation to League One.
Arsenal, Brentford and Newcastle United are among the clubs that have shown a keen interest in Monga, although the latter two are trailing the Gunners in the transfer race.
Monga heading towards Arsenal transfer
According to The Telegraph, Arsenal have stepped up their interest with an official bid for the Leicester academy product.
While the Foxes have rejected the proposal, there is an expectation that the two clubs will eventually reach an agreement over a transfer.
Arsenal's pursuit of Monga is part of a strategy to sign leading academy products who can grow into first-team regulars and create opportunities for significant sales in the future.
The report also claims that Monga has made it clear that Arsenal is his preferred destination for a summer move.
Monga made his professional debut as a 15-year-old in Leicester's 3-0 Premier League defeat to Newcastle United in April 2025.
Arsenal to make decision over loan move
The teenager has gone on to feature in a total of 37 competitive matches, including a goal and two assists in 30 appearances during a tough 2025-26 campaign for the Foxes.
If he joins Arsenal this summer, Monga will gain more valuable experience by taking part in the club's pre-season schedule.
Arsenal boss Mikel Arteta would use that time to assess Monga and decide whether he is ready to play for the first team in the 2025-26 campaign.
The fact he started just eight Championship games last season suggests the jump to playing for the Premier League champions may be too big at this point in time, which may persuade Arsenal to complete his signing and then find a suitable loan destination.