Sergio Ramos pondered joining Arsenal but decided against it when the Premier League club failed to qualify for Europe, according to Goal reporters.
The 35-year-old was offered a whopping £30 million in salary, which would have been spread out over a two-year contract.
Ramos left Real Madrid last month as a free agent, after he failed to thrash out fresh terms with the LaLiga giants.
He has now signed a two-year deal with Paris Saint-Germain.
Several top teams were keen on the defender and Arsenal’s offer was said to have intrigued Ramos.
He only opted against joining the Gunners because of their failure to qualify for next season’s Champions League.
Manchester City also proposed a three-year contract and were prepared to offer Ramos the option of joining their MLS sister club, New York City, at the end of that period, but the former Spain international eventually settled on joining Paris Saint-Germain.