La Liga striker set to snub Premier League interest.
Arsenal and Chelsea could be set to miss out on the signing of exciting Valencia youngster Paco Alcacer as he prepares to open talks over a new contract, according to the Daily Star.
The 21-year-old is widely regarded as one of the best young talents in Spain at the moment, having shown some prolific form in La Liga for much of the last year.
This had seen Arsenal and Chelsea become keen on a possible January bid for the in-form striker, though he could now see his release clause rise to a massive £40m upon penning a new deal.
This may prove too much for clubs to consider paying for Alcacer at this stage of his career, as he remains inexperienced at the top level despite his obvious potential.