However McDermott has today told Sky Sports that he does not expect a deal to happen during the January transfer window.
“It’s one that I’ve heard many times,” McDermott told Sky Sports. “He’s an Arsenal player. I don’t think he will be a Reading player.”
Despite this, the Royals boss did not deny that the club was planning to spend big if the right player was available.
“We haven’t broken the bank, I certainly haven’t in the last three years and we probably haven’t in the last 12 years as a club,” he said.
“That’s not to say that if a player came in that we felt was right for us, at the right cost, then the owner would have to make a decision to back that deal. Then we will wait and see. It’s not a case of we wouldn’t if it was right.”
Reading currently possess one Russian international forward in their ranks already -Pavel Pogrebnyak who joined in the summer from Fulham, and the club’s owner Anton Zingarevich too derives from the country, perhaps shedding some light on the linkages of Arshavin to the Madejski Stadium.