Galatasaray have made an offer for Arsenal defender Shkodran Mustafi according to the Fanatik newspaper.
Per the source, the Lions want the Germany international on loan.
Arsenal rejected the loan offer and made it clear they will not consider offers below £22.3m [€25m] for the defender.
The Gunners are only prepared to sell the 26-year-old on a permanent deal.
Galatasaray are keen on strengthening their defence ahead of the Champions League next season but would not be prepared to pay £22.3m.
The Istanbul based outfit are under pressure from Financial Fair Play to curb spending or face the threat of being suspended from European competition.
Mustafi has another three-years remaining on his contract and made 38 appearances in all competitions for the Gunners last season.
The Arsenal man is expected to be a first-choice defender under the stewardship of Unai Emery next season.
Emery has however, yet to settle on a first-choice centre-back pairing after using a few different combinations over the pre-season.
Summer signing Sokratis Papastathopoulos is likely to make the cut but Mustafi faces competition from Konstantinos Mavropanos, although the German international does offer more experience.
Mustafi was not called up for the World Cup by Germany national team manager Joachim Low this summer and has enjoyed a full pre-season at Arsenal.
Galatasaray won the Super Lig title for the 21st time last season and will compete in the Champions League group stage.