Arsenal have turned down a £30million bid from Everton for Alex Iwobi and are asking for more money.
And according to the UK Telegraph, the Gunners are holding out for a fee above £40million.
If the Toffees go that high for the Super Eagles star, it will break Arsenal's record for their most expensive sale.
Alex Oxlade-Chamberlain cost Liverpool around £40m, when he left the club two years ago and it remains their biggest deal ever.
Iwobi is not angling for a move to Everton, but would agree a move to Goodison Park if the two clubs reach an agreement.
The Hale End Academy product extended his contract after the 2018 World Cup tying him to Arsenal until 2022.
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