Premier League Transfer News June 29, 2017: Arsenal and Manchester United Suffer Major Setbacks

Arsenal dominates the headlines this morning, though not in ways that will please its fans.

One of Arsene Wenger's priorities this summer has been to find a striker but it appears he's no closer to actually signing one. Sky Sports claims Arsenal has had a bid rejected for Lyon striker Alexandre Lacazette who the Ligue 1 club values at a cool £50 million ($64,800,000).

Worse, Arsenal has also, reportedly, been knocked back in its pursuit of A.S. Monaco winger Thomas Lemar.

Lemar, 21, is one of a number of young Monaco players expected to leave this summer. But a bid of around £30 million won't be enough for Monaco to give him up.

Part of the reason Arsenal needs a striker badly? It could be about to lose Alexis Sanchez. Manchester City is "confident" of signing the striker who won through to the Confederations Cup final with Bayern Munich on Wednesday evening, according to The Guardian.

Arsenal is in a bind with Sanchez. If it doesn't sell him this summer he can walk away for free once his contract expires in 2018. If it does decide to cut and run by getting a transfer fee for the 28-year-old, he risks strengthening a direct rival. Bayern Munich, a more palatable suitor, has reportedly dropped out of the race.

Nemanja Matic appeared almost certain to move from Premier League champion Chelsea to Manchester United.

Now it all looks a little more tricky. The Daily Record in Scotland reports that Chelsea manager Antonio Conte is unwilling to let Serbia international Matic leave unless the club secures two players in to replace him.

Tiemoue Bakayoko of Monaco is incoming but Conte wants at least one more midfielder, or Matic isn't going anywhere. With Paris Saint-Germain now reportedly in talks with Fabinho, Jose Mourinho could be forced into a hurried reshuffle of his transfer plans.