Arsenal pulled out of a deal to sign Malcom from Barcelona over his loan fee, per The Sun.
The Gunners completed the signing of Denis Suarez on transfer deadline day, securing the midfielder on a loan deal.
Arsenal, per the aforementioned report, have paid a loan fee of £2million with a view to an £18m move in the summer for Suarez.
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However, the Spanish giants did not want to let Malcom leave on the cheap. Arsenal subsequently walked away from the deal, along with Tottenham Hotspur, who The Sun claim were also interested.
It is a sad state of affairs when Arsenal have to snub a loan deal because it is too expensive.
They have brought in Suarez and he will surely add some much-needed dynamism to the midfield but Malcom would have brought an extra dimension on the flanks.
Per Transfermarkt, he has played just six La Liga games this season and would surely have jumped at the chance to revitalise his career in north London.
Instead, the Gunners have pinched their pennies and ensured that the Brazilian will spend the remainder of the season on the Barca bench.