Shakhtar hand Arsenal £88m Mudryk transfer ultimatum after Chelsea open rival talks

• Arsenal have made two bids for Mudryk
• The second was believed to total around £62m
• Chelsea have now opened talks with Shakhtar over the winger

WHAT'S HAPPENING? The Gunners tabled a second bid for Mudryk on Monday after having their opening offer of around £55 million (€62.5m) rejected.

But Shakhtar have also now indicated that Arsenal's latest proposal - believed to total around £62m (€70.5m) - was once again far too low, with the Ukrainian side holding firm on their £88 million (€100m) valuation.

THE BIGGER PICTURE: Arsenal are desperate to get a deal done for Mudryk this month to bolster Mikel Arteta's attacking options ahead of the second half of the season and the player has made it known how keen he is on making the move to north London.

But sources have confirmed to GOAL that Shakhtar would be willing to put an end to the ongoing talks this month if their valuation is not soon hit and would wait until the summer before restarting any negotiations.

AND WHAT'S MORE: Arsenal also have the issue of Todd Boehly's Chelsea to deal with, as the west London club are now in active talks with Shakhtar over Mudryk - although they are not yet understood to have tabled an official offer.

STORY IN THREE PHOTOS:

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THE VERDICT: Shakhtar's seemingly unwavering stance over Mudryk will be a growing concern for Arsenal, who wanted to wrap up a deal for the winger in the early stages of the January window. The Gunners will soon be faced with a big dilemma if a deal can't be reached. Mudryk remains the priority, but if signing him proves to be impossible, they will have to decide whether to move on to someone else. Mikel Arteta's lack of attacking options was clear for all to see against Newcastle on Tuesday night and the Arsenal boss is desperate for more firepower to bolster his side's title chances.

WHAT NEXT FOR ARSENAL? The Gunners travel to Oxford United in the FA Cup third round on Monday night.