Vucinic, 30, was a reported target for the Gunners last week as boss Arsene Wenger continues to seek help for Olivier Giroud, who has carried much of the attacking workload this season. But their hopes of landing the former Roma star were dealt a blow when it was revealed that Vucinic was involved in a swap deal between Juventus and Inter Milan for midfielder Fredy Guarin.
The deal fell apart, and whilst Inter and Vucinic still have a mutual interest in striking a deal, the news alerted a number of other clubs to the Montenegrin's availability including Russian giants Zenit St. Petersburg, who have previously shown that they can compete with Europe's biggest clubs having landed Axel Witsel and Hulk in recent times.
But according to reports, Vucinic isn't interested in a move to Zenit or Russia at all, and is still hoping a deal with Inter can be struck – yet, after the collapse of the Guarin swap deal, the prospect of that move coming through seems slim at the moment, particularly with president Erick Thohir unwilling to part with the Colombian midfielder, who Juve had requested in order to let Vucinic leave to their rivals.
The news could reignite Wenger's interest in Vucinic, whose ability to play out wide or as a central striker would be incredibly vital as arsenal look to challenge in both the Premier League and the Champions League. A loan deal until the end of the season was mooted last week, and similar rumours are now likely to resurface as as Vucinic turns down a move to Russia.
It currently seems that Arsenal's primary target is Schalke midfielder Julian Draxler, but if they fail to agree a deal by Friday night, they could turn their attentions back to Vucinic, with fans now hoping for another late transfer market swoop following the deadline day capture of Mesut Ozil in September. Whilst Draxler would certainly fit in the same category, a move for Vucinic would be slightly more low-key, but still a boost for the club as they seek their first silverware since 2005.