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Gunners have cash plus Denilson bid for highly rated Brazilian rebuffed by the Ukrainian Champions according to the player's representative, with it preferring a money only offer

Arsenal has had an approach for Douglas Costa turned down by Shakhtar Donetsk, according to the player’s agent.

Cesar Bottega stated that Arsene Wenger’s side made an offer of cash plus out of favor midfielder Denilson for the talented Brazilian, but the offer was rejected by the Ukrainian club who is only interested in a money deal.

Bottega told calciomercato: "The Gunners offered the Ukrainian club Denilson plus an economic balance [cash], but Shakhtar said no, because they are not interested in Denilson and would like only money."

The Gunners are believed to have been interested in the midfielder for a period of time but are not the only Premier League team to have the 20-year-old on their radar, as Manchester United is also aware of his talents, but has not made any offer thus far.

Costa has spent the past two seasons playing in the Ukraine for Shakhtar after moving there in January 2010 from Brazilian side Gremio. His style of play and similar background has often led to comparisons with former Barcelona star Ronaldinho.

The Brazilian has made 40 appearances in his 18 month spell at Shakhtar scoring 10 goals helping it win the Ukrainian Premier League in each season since his arrival.

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