According to Mundo Deportivo, Arsenal attempted to sign Pedro this summer, before his rejection led to them buying Alexis Sanchez.
Pedro has been linked with a move to the Emirates for some time now, but things were very close this summer, according to reports in Spain, before the appointment of Luis Enrique as manager meant he opted to stay and blocked the transfer.
Pedro had wanted a move away from the Nou Camp after falling out with former Barca boss Tato Martino, but after finding out he was leaving, the Spaniard decided to stay put.
This was because Enrique rang Pedro up to convince him to forget about any other offers that were on the table, as he was a firm part of his first-team plans.
That caused Arsene Wenger to take a look at Sanchez, as the Chilean was next on the list of targets.
It comes as a surprise that Sanchez was second-choice, given the furore that his arrival caused at the North-London club.
Sanchez is the higher profile of the two wingers, but is seems that Pedro was Wenger's preferred target at the start of the window.
Even so, the deal that he ended up with has worked out well as Sanchez has made a big impression at the Emirates.
The 25-year-old's spirit and talent has shone through in what has been a disappointing start to the season for the Gunners.
Many expected Arsenal to challenge for the title this campaign, but they are already some way behind Chelsea, who currently top the table, and even getting a top four spot is going to be a challenge for the side.
Sanchez, though, has been one of the better performers so far and he will be hoping to build on this positive start after the international break.
Pedro, meanwhile, has not been in the first-team quite as much as he would have liked, but he is reportedly still happy at the club.
The 27-year-old's contract expires in 2016, and Arsenal may try and capitalise on this uncertainty if his future is not sorted soon, but Barcelona are thought to be keen to offer him a new deal in the coming future.