Arsenal defender William Gallas has rejected an offer from Greek giants Panathinaikos.

The 32-year old France international was reportedly offered a two-year deal worth £80,000-a-week but is believed to be holding out for a bid from Italian clubs Juventus and Roma.

Gallas also rejected an offer from Arsenal who did not meet his wage demands and although it is unlikely Roma will, reports suggest that Juventus are keen and could make a bid after the World Cup.