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ARSENAL manager Arsene Wenger has dashed Fiorentina goalkeeper Francesco Toldo's hopes of joining the Premiership club, by saying that he will not pay an inflated transfer fee to secure the highly-rated custodian's services.
After revealing last month that he had been the subject of a transfer bid from Manchester United during the summer, Italian international keeper Toldo announced that he would relish the opportunity of joining The Gunners.
However, in a week that has seen Tore Andre Flo move to Rangers for £12 million and Rio Ferdinand moved
to Leeds for 18 million, Wenger has said that he would not consider outlaying such a large transfer fee for any player.
Toldo's impressive performances for Fiorentina have seen him included in the 50-man shortlist for this year's Golden Ball award, run by France Football, and he is currently rated at around £20 million, but Wenger has said that, in the current transfer climate, he would not be willing to part with more than £5 million for a player.
Echoing comments that he made at the start of the season, before signing French international Sylvain Wiltord for a reported £12 million from Bordeaux, Wenger said: "I would not spend that kind of money. I would be crazy to do that.
"Any money over £5 million is crazy. If you buy a player for £1 million, or £2 million, then that's different. I wouldn't buy big at the moment as I'm not sure what will happen."