The reported €90m figure stands out because it shifts the conversation.
That is often how top clubs manage market noise. A high number does not mean a player is on the block. It can mean the opposite: the club believes it holds leverage and sees no need to compromise.
The arrival of Bruno Guimarães has naturally fuelled debate about the shape of Mikel Arteta’s midfield, but depth is not a problem for a team expecting to fight on multiple fronts. The update says Arsenal do not view the situation as a straight choice between Guimarães and Zubimendi, which fits the demands of a long season.
There is also a practical layer here. Another report says Arsenal were beaten 3-2 by Borussia Dortmund in pre-season, a reminder that squad balance and reliable options still matter as the campaign approaches. Rotation is not a luxury when fixtures stack up.
If Real Madrid or Chelsea are serious, the next step is obvious: test that stance with a bid big enough to force a conversation. Until then, Arsenal’s position appears firm. The next storyline to watch is whether late-window interest becomes formal - and how often Arteta uses Zubimendi alongside his other senior midfield options as the new season gets closer.