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Arsenal's transfer window is by no means derailed, but the morale around the club has taken a significant dent in the last 24 hours after news emerged that the Gunners are set to miss out on one of their main targets.

One marquee signing is on the verge of completion in Manchester City forward Gabriel Jesus to the tune of £45million. Once the Brazilian has been officially unveiled as an Arsenal player, the plan from the club hierarchy was to then shift their focus on to Jesus' fellow countryman Raphinha.

The Leeds United winger is highly thought of by those at the Emirates, but as things stand they are now on course to lose the race for his signature to fierce London rivals Chelsea. The Blues have flexed their financial muscles at just the right time under new owner Todd Boehly by agreeing a fee reportedly worth £60m including add-ons for the pacey winger.

All signs would now indicate Raphinha is heading to Stamford Bridge providing the west London outfit can agree personal terms with the 25-year-old. Arsenal, meanwhile, will be left scratching their heads over what do next after having their second verbal bid for the player gazumped by their top-four rivals.

Though there are