Arsenal, Bayern Munich watching Girona wing-back Gutierrez

Relevo says Bologna pushed for his signing over the summer, but the Spaniard was unconvinced it was the right opportunity for him.

Arsenal, Bayern Munich and Bayer Leverkusen also showed interest, but none of them presented a concrete offer.

Real Madrid can buy the player back for €8m, but also has a 50 per cent resale clause.

Gutierrez's buyout clause at Girona is €35m.