Arsenal were linked with Espanyol goalkeeper Joan Garcia this summer, but a deal did not materialise in the final days of the transfer window.
The Spaniard was earmarked as a replacement for Aaron Ramsdale, but the Gunners were put off by Espanyol’s demands before the deadline.
The La Liga outfit were reluctant to accept anything less than his £25.2 million release clause.
Arsenal made an offer of £16.8m, including add-ons, which was deemed insufficient for a transfer.
The Gunners eventually chose to sign Neto on loan from Bournemouth with barely time left in the transfer window to negotiate for Garcia.
Mundo Deportivo claims Garcia could cost more next year as his clause value will increase to £29.5m if he is called up by Spain.
The 23-year-old is presently in the pre-selection list of manager Luis de la Fuente and could get the nod in the squad after Unai Simon’s injury.
Arsenal star David Raya is expected to start in the upcoming Nations League games against Denmark and Serbia amid his exceptional club form.
Arsenal may have to spend more on Garcia next year
The Gunners had an agreement in principle over personal terms with the Spaniard, but Ramsdale’s late exit to Southampton did not benefit them.
Espanyol had no plans to negotiate for the shot-stopper, who had just delivered a standout performance against Atletico Madrid away from home.
Arsenal are likely to return for Garcia in future, having only signed Neto on a temporary basis.
The club should remain favourites in the pursuit of Garcia but may have to pay a much higher transfer fee if he is called up by Spain.
Espanyol could stay firm on the increased release clause if they manage to avoid the drop from La Liga.
The Catalonian outfit are 18th in the standings, two points above the relegation zone.
Garcia has been outstanding for them this season. He recently made ten saves and stopped a penalty in the 1-0 loss to Real Betis in the Spanish top-flight.
Stats from Sofascore.com.