Raya’s representative, Jaume Munell, has told AFTV of why a loan was put in place: "Arsenal showed interest for the first time three years ago in 2021. They tried to buy him but Brentford didn’t want to sell him at any price. After they bought [Aaron] Ramsdale that was an easier option but David has always been the priority. This summer, he had just one year left on his contract with Brentford and Arsenal was the club that showed the most concrete interest and have always been our priority.
"Tottenham also was interested and made an official bid but it was refused because was lower than the €40m [£35m] that Brentford wanted to sell him, also Bayern Munich was interested and had an amazing offer but with no buy option included and for this reason, we’ve not accepted it. Bayern Munich didn’t understand our refusal because they thought that Raya would have been the back-up keeper at Arsenal but as you can see it’s not like this. Also Manchester United and Chelsea made an inquiry but nothing concrete. The formula of the deal is a loan with the option to buy, Arsenal had some Financial Fair Play issues and this is the reason why they haven’t bought him with a permanent transfer."