"We received offers that satisfy us economically from four big clubs", Lopez said.
The Gunners were believed to be working with a depleted £40m transfer budget this summer, but it has become apparent in recent weeks that this may not be the case, as they are reported to be close to a £72m deal for Pepe, having already recruited Dani Ceballos on loan and secured ASSE's William Saliba. "We want the best players possible for the first game at Newcastle".
Fonte described Pepe as "very, very accomplished player" who will add a new dimension to an Arsenal attack that has lacked width since the departure of Alexis Sanchez to Manchester United in January a year ago. "There are different players on the table", Emery said after his side's 2-1 defeat to Lyon in a friendly on Sunday.
"He's incredible", the former West Ham and Southampton defender said of Pepe in an interview with talkSPORT.
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On Friday, reports across England stated that Arsenal had a bid of around $100 million agreed to sign Pepe, and all Arsenal needed was for Pepe to agree personal terms with the club. At the beginning of the market, we were thinking to do one centre-back, one full-back and one winger. I want a team that is better than previous year, so the players can achieve a lot being with us this season. "Only the players that can improve and help the squad will be brought in".
The signing of William Saliba from St Etienne was confirmed just hours after Ceballos but the 18-year-old France youth worldwide will spend the next season back on loan at the Ligue 1 outfit.
This can be considered as a major coup for Arsenal and suddenly a transfer window full of despair is now looking very positive after all.