Arsenal had been linked with a move for the striker this summer.
Spain's Alvaro Morata shoots at goal
Arsenal have given up on the chance of signing Alvaro Morata after being scared off by Real Madrid’s huge asking price, reports the Mirror.
The Gunners are keen to add a striker to their squad this summer after the manner in which Olivier Giroud and Theo Walcott struggled last season.
They have already made a move for Leicester City star Jamie Vardy after they activated a £20million release clause in his contract.
Jamie Vardy celebrates after scoring the third goal for Leicester City
However, it appears that bid will end in failure, with the striker looking likely to stay with the Foxes when he makes a decision at the end of Euro 2016.
Morata had been named as another potential target, with Corriere dello Sport claiming last month they had made a huge £51million bid for his services.
The player is heading back to Real Madrid this summer after they opted to activate a buy back clause the deal that took him to Juventus.
Football Soccer - Juventus v Milan - Italian Cup Final - Olympic stadium, Rome, Italy - 21/05/16
They are looking to sell him on for a quick and easy profit but it appears that Arsenal will not be his next destination. According to the Mirror, the La Liga giants putting a huge £60million price tag on Morata has scared them off pursuing a deal.
It will now be interesting to see if the Gunners move for a different striker instead, with that certainly an area of the team that needs improvement if they are to compete next season.
Arsenal manager Arsene Wenger