The Colombia international has been heavily linked with a move to the Emirates but his representative says his buyout clause, which is believed to be €40m, must first be met.
The Gunners are said to hold an interest in the Porto attacking midfielder, who is believed to have a 40 million euro release clause in his contract, with reports on Thursday claiming the star had flown into England for talks with the north Londoners.
However, his representative, Ricardo Calleri, claims the 21-year-old will not leave the club unless his buyout is triggered, though he says his client has a number of suitors throughout Europe.
“Porto have never talked about negotiating the sale of Juan Quintero,” Calleri told MaisFutebol. “Of course, there are clubs interested. There is a lot of interest from clubs from Spain and England in the player.
“But in order for him to leave, a club has to pay his buy-out clause.”
Quintero represented Colombia at the World Cup, scoring against Ivory Coast in Group C, having made 22 appearances for Porto in the Primeira Liga in 2013-14.