Arsene Wenger has denied claims that Arsenal have submitted a £6m offer for Bolton Wanderers defender Gary Cahill.
Wanderers manager Owen Coyle had earlier revealed that the Gunners had made a bid for Cahill, but described their offer as "derisory".
Reports had suggested that Arsenal had offered £6m to £7m for the player, a figure which Wenger has insisted is incorrect.
"First of all I would like to say the number is wrong," said the 61-year-old. "It's completely wrong and nothing to do with how much we rate the player.
"I believe negotiations are between two parties and you only have to sell the player if you are alright with the price."
Wenger also refused to confirm whether the club would be making a second offer for the England international.
