Martinez will reject the Premier League and sign a new deal at Porto.
FC Porto striker Jackson Martinez has been a long-term target for both Arsenal and Chelsea but the 27-year-old is set to sign a new deal in Portugal instead, according to the Daily Star.
Both Premier League clubs are looking to sign new forwards to try and bolster their squads, but it appears that Martinez will not be the answer.
The Colombia international has been in fine form since coming to the attention of Europe’s elite after joining Porto from Mexican club Jaguares de Chiapas in the summer of 2012.
Since then Martinez has shown great touch in front of goal and has netted 50 times in 67 games for the Portuguese champions – including five in the Champions League.
It was this form that drew the two London clubs towards the South American, although a hefty fee would be needed to tempt Porto into selling.
The Gunners have been looking at possible attacking signings since the start of the season, with only Olivier Giroud, Nicklas Bendtner and Yaya Sanogo as recognised strikers at the club.
Whilst Lukas Podolski and Theo Walcott can also fill in, the long-term injury to the Englishman has made things at the Emirates Stadium even more desperate.
As for the Blues, their trio of attackers – Demba Ba, Samuel Eto’o and Fernando Torres – have only shown glimpses of good form in the box.
Eto’o is the top-scorer of the three this term with 10 strikes, although the 32-year-old is on a short-term deal until the summer and is unlikely to have that renewed.
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