Authoritative German newspaper Bild has reported that Club Brugge turned down an 18 million Euros bid for Emmanuel Dennis because they felt they could get much more for the winger.
According to Bild, Arsenal made the offer last summer.
Club Brugge had hoped to sell the forward for about 25 million Euros last year.
Dennis, 23, has since gone on loan to Bundesliga club FC Cologne after some controversies and fallen out of the first-team of the Belgian champions.
His value on the transfer market has since crashed to 11 million Euros with Club Brugge hoping he will regain his form so that they could still cash in on that by the coming transfer window.
