Chief executive: 'Juventus will not be signing Gonzalo Higuain'

Juventus chief executive Giuseppe Moratta has ruled out signing Napoli striker Gonzalo Higuain, admitting that the club have been priced out of a move.

The confession provides a major transfer boost for Arsenal, who were said to be in direct competition with the Italian giants over a summer swoop for the 28-year-old.

Recent reports suggested that Juventus, soon to be boosted by a £100m windfall for midfielder Paul Pogba, would splash out the £78.8m required to buy out the release clause in Higuain's contract.

Moratta has denied these claims, though, telling Sky Sport talia: "For now the Higuain matter is closed. I can confirm that we will not pay the clause."

Napoli president Aurelio De Laurentiis added: "Marotta told me that Juventus won't activate the €94m clause for Higuain. Juventus are very intelligent and they understand that they cannot do this. They know perfectly well that it is a lost battle."

Higuain, who joined Napoli from Real Madrid in 2013, has two years left to run on his current deal and has not asked to leave the club following a season that saw him score 36 goals last time out.