Arsenal midfielder Lucas Torreira is set to join Atletico Madrid on loan before the window slams shut but the deal has been held up.
Torreira is already in Spain and has reportedly passed his medical but, according to Spanish outlet Marca, the move has been delayed by La Liga's financial rules.
The report claims Atletico need to offload a player in order to bring in Torreira, with Thomas Lemar and Hector Herrera linked with exits.
However, neither player has departed yet and the move could end up being dependent on Arsenal's late bid to sign midfielder Thomas Partey from Atletico.
Daily Star Sport understands that Arsenal are trying to get a deal done for Partey and will need to pay his £45m buyout clause.
If that move goes through, then it paves the way for Torreira's loan to be finalised.
Former Gunners striker and Daily Star Sport columnist Paul Merson believes it will be very good business if the club bring in Partey and ship out Torreira and Matteo Guendouzi on loan.
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Speaking to Sky Sports News, Merson said: "I think he’s a top drawer player. I nearly fell off my chair at that price! At £45m, I don’t think that’s a lot of money at all for the quality of player you’re bringing in here.
"The one thing he brings as well is discipline. He’s played at Atletico Madrid who are probably one of the most disciplined teams in Europe and he will do that.
"He’s not a midfield player who will go running all over the place, where you’re thinking: 'Where’s he gone?' He’s very disciplined, he plays in a disciplined team and I think he would be a great signing."
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Merson added: "I like what Arteta’s doing, he’s trying to get rid of the players that are not involved. You don’t want them hanging around and he wants them out and fair play. ‘I like what they’re doing, Arsenal.
"They’re not playing at the moment and he doesn’t want them around the club. He’s trying to get rid of them and I like that kind of business.
"There’s an identity now with Arsenal and you know what they’re trying to do. You know what they’re trying to do. I think they try and overplay a bit too much but when you get someone like Partey in and [Dani] Ceballos in who can play, I like what they’re doing."
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