Brazilian club Portuguesa say they have received an offer from Arsenal but rejected it because it was too low.
The 21-year-old has emerged as one of the most promising strikers in Brazil after scoring 18 goals in the league last season.
Portuguesa director Andre Heleno was quoted as saying:
“We have refused an offer from Arsenal, because it was too low,”
“Up to now the biggest offer has come from Italy, which was £9million, but we will start to think about selling him at £12million.”
Four other clubs have been linked to the striker Benfica, Sporting Lisbon, Fiortentina, and Olympiakos and Diogo has admitted he is ready to move to Europe.
“I’m going through a great moment with Portuguesa, but I have a dream of playing in Europe and if it happens now then I’m ready for it,”
“But I must respect my commitment to this team, and I’ll only go if there’s an offer that’s good for both me and the club.”