Arsenal have reportedly had a £57m transfer bid for Mykhaylo Mudryk rejected by Shakhtar Donetsk. 

The Lowdown: Arsenal linked with Mudryk

The Premier League leaders have been linked with a move for the 21-year-old since last summer's transfer window. Since then, the Ukrainian has gone on to score 10 goals and deliver eight assists in 18 games for Shakhtar across all competitions.

With the January transfer window on the horizon, the Gunners have been dealt a setback to their hopes of securing a deal for the winger.

The Latest: Arsenal have Mudryk bid rejected

According to a report from the Daily Mail on Tuesday evening, Arsenal's bid of £57m for Mudryk has been rejected by Shakhtar.

The report adds that the Ukrainian club are looking to get as much as £85m for the winger, who Kevin Campbell previously claimed would be a "devastating" player for Mikel Arteta's side and who 'has made clear his interest in joining the north London side'.

The Verdict: Disappointing for Arsenal

In addition to providing a goal contribution in almost every league game that he's played this season, Mudryk has also showcased his attacking capabilities in the Champions League, with three goals and two assists to his name in six appearances in Europe.

Arsenal's bid being rejected will come as a blow for the north London club, but with the January transfer window not officially open yet, they still have time to potentially negotiate with Shakhtar and come to a conclusion which would satisfy all parties.

However, considering the transfer fee that the Ukrainian club reportedly want for their star attacker, it's safe to say that this could be a very expensive move for the Gunners to make, perhaps one which could see them get near or even break their transfer record.

Arsenal sporting director Edu will have to decide whether he thinks Mudryk is worth the fee that Shakhtar are demanding for him.