Malaga coach Manuel Pellegrini is confident that the club's owners would turn down a bid of £15.5m for stay player Santi Cazorla.
Arsenal have been linked with a summer pursuit for the playmaker and have reportedly had a bid accepted, but Pellegrini has now cast doubt on the move.
"There is an offer, they say, for Santi Cazorla," ESPN quotes Pellegrini as saying. "To sell him for £15.5m would be to give him away. I don't think the club intends to do that.
"This would not be representative of [the owners'] 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 £15.5m."
Cazorla signed for Malaga last year from Villarreal.
