Joel Campbell has opted against signing for Arsenal just yet in order to focus on the upcoming Under-20 World Cup finals.
The 19-year-old Costa Rica international was believed to be on the verge of joining The Gunners in a near £1million deal.
However, the teenager has decided to remain with Deporivo Saprissa for now in order to concentrate on the U20 tournament in Colombia.
Campbell's father Humberto confirmed the highly-rated starlet would not be joining in order to concentrate on international commitments.
Arsenal's Premier League rivals Manchester United have also been linked with the starlet and it has been confirmed that 'other' offers are on the table.
"We've decided we will not sign anything yet," his father told La Nacion.
"We have other offers on the table that are being analysed, but nothing's done. Let's negotiate after the World Cup.
"We hope to go to the World Cup and that Joel plays well without pressure. We'll see what happens."
Saprissa president Juan Carlos Rojas has expressed his disappointment that Campbell's transfer to Arsenal will not come to fruition.
"It's disappointing for football, for Saprissa that these people have not taken Arsenal's offer seriously," explained Rojas.
"I assume the father thinks things will get better after the decision, but there's always a risk.
"It's a pity Costa Rican football could not have a player at Arsenal at the moment."