Zenit St Petersburg have issued an ultimatum to Arsenal to conclude a deal for playmaker Andrei Arshavin on Saturday, or risk missing out on him entirely.
Reports suggest talks between the clubs have broken down over the transfer fee to be paid to the Russian club.
The Gunners have reportedly offered a package totalling £15million, of which £12million would be paid up front, with a further £3million to be added in bonuses, appearance fees and other conditions.
But the St Petersburg club are still angling for an increase in the transfer fee, and are now pushing to conclude the deal on Saturday.
"If Arsenal don't accept our terms, then Arshavin will not be sold to them," Zenit general director Maksim Mitrofanov told Sport Express.
"In any case this will be resolved by Saturday evening."
Mitrofanov also revealed interest in Arshavin from other Premier League clubs.
"Arshavin may still end up in England," he said.
"Several other clubs are interested in him, who haven't yet issued an official approach, but who are ready to do so."
Arshavin added: "I can only wait and see how the situation resolves itself. I know about Arsenal's offer and the £12+3million plan, and I consider that according to the current state of the market to be more than adequate.
"But clearly I am not the one who will make the decision."