Arsenal and Manchester City are set to miss out on the signing of Stephen El Shaarawy from AC Milan this summer.

The highly rated striker has already agreed a deal in principle and will sign a deal in the summer that will keep him at the Italian club until 2018, which more or less rules out the possibility of either club signing the player, according to TalkSport.

Arsene Wenger has spoke openly of his admiration for the player and was linked with a possible bid, as was Roberto Mancini. Both managers will lose out in this instance as AC Milan have plans for the player.

After losing Zlatan Ibrahamovic to PSG, 20-year old El Shaarawy has definitely filled the gap that was left by the striker. El Shaarawy has been compared to players such as Neymar and Ronaldo and he is widely rated around the world.

The young striker is known for his impressive dribbling ability and technical skills and he also has scored some strong goals from outside the box. He has been on impeccable form so far this season scoring 18 goals in all competitions and AC Milan foresee that he and Balotelli can form a very strong and dominating strike partnership.