Pierre-Emerick Aubameyang's move from Borussia Dortmund to Arsenal has not moved any further forward with negotiations between the two clubs yet to begin.
On Saturday, Dortmund chief executive Hans-Joachim Watzke revealed that Arsenal had made their first enquiry to sign Aubameyang, who is currently suspended from first-team duty for missing a pre-match meeting.
But Watzke said he has had no contact yet from his opposite number at Arsenal, Ivan Gazidis.
He told Bild on Sunday: "We were contacted by Arsenal CEO Ivan Gazidis, where he informed us that he intends to talk to us. That, however, did not happen yet. There are no current talks."
German football magazine kicker reported that Arsenal had submitted an official offer in the region of €50 million, an amount which they say would not be acceptable to Dortmund. Bild says the Bundesliga club are holding out for a figure closer to €70m.
Aubameyang is under contract at Signal Iduna Park until 2021. The 28-year-old has been heavily linked with a move to Arsenal as a potential replacement for Alexis Sanchez, who is expected to move to Manchester United in a swap deal with Henrikh Mkhitaryan.
Aubameyang was the Bundesliga's top goal scorer last season as he finished the campaign with 31 goals and has hit 13 in 15 games so far this year.
However, he has been suspended twice by Dortmund this season, and three times in 14 months, for disciplinary reasons and sporting director Michael Zorc revealed last week he was not focused enough to play.
Arsenal boss Arsene Wenger was accused of being "disrespectful" by Zorc when he spoke about the links with Aubameyang last week.
Information from the Stefan Buczko was used in this report