Velez Sarsfield have confirmed that star midfielder Ricky Alvarez has joined Italian giants Inter, rather than moving to Arsenal. The Argentinean champions have stated that the fee for the move is $17 million (£10.6 million) and that he has signed a five-year contract.
The news will come as a disappointment to Gunners fans, who seemed to be in poll position in the bid to capture the 23-year-old, but a last gasp offer from Serie A’s runners up has foiled Arsene Wenger’s side.
Gian Piero Gasperini’s team have purchased 90 per cent of the South American’s economic rights and will purchase the remaining 10 per cent for £1m if their new signing makes 80 first team appearances.
Meanwhile, on a more positive note, Lille forward Gervinho arrived in London on Wednesday to undergo a medical with the Emirates side, with a deal to take the Senegalese international to England on the verge of completion. The 24-year-old scored 15 goals and set up 10 more in his side’s Ligue 1 success in 2010/11.