Arsenal will have to spend more than half of their summer transfer budget if they want to sign Kieran Tierney from Celtic this summer, according to reports in the British media.
The Daily Telegraph is reporting that the Scottish champions have already rejected two bids from the Gunners for the 22-year-old left-back this summer.
Both of those bids are believed to be less than £19m, as Unai Emery sets about trying to bolster his squad ahead of next season.
According to the same story, Celtic value Tierney at closer to £25m, which would make him the most expensive player ever sold by the SPL club.
The same article says that Arsenal only have a transfer budget of around £45m available to them this summer as they look to strengthen their squad.
However, the story also confirms that Arsenal will be able to re-use any funds generated from player sales in the current transfer window.
The same article says that Arsenal would be able to offer Tierney wages of around £70,000 a week.
Arsenal are believed to be on the lookout for a long-term replacement for Nacho Monreal, who turned 33 earlier this year.
The Gunners finished in fifth place in the Premier League table and without a trophy last term.
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