Arsenal transfer news: Unai Emery wants to sign Fulham captain Tom Cairney, but lack of Champions League football has diminished finances

Tom Cairney is a transfer target for Arsenal, but the move appears unlikely to happen because of financial constraints in place at the Emirates.

Failure to qualify for the Champions League in back-to-back seasons has seen Unai Emery’s transfer purse strings tighten – with British talent also at a premium.

The Fulham captain is one of a number of homegrown talents being looked at by the Gunners, but his value is deemed too pricey.

According to the Daily Mail, new head of recruitment Sven Mislintat has been shocked at the valuations of the young talent from the UK.

In fact, the German is reportedly focusing his attention on recruiting young players from abroad instead in order to be more cost-effective.

Failing to qualify for the Champions League in consecutive seasons has also limited the club for two reasons; the lack of pulling power afforded to the north Londoners and a reduced revenue stream as a result of failing to qualify.

West Ham United tried to sign the Scotland international in the summer, but saw their bid of £20million rejected.

Cairney’s Fulham teammate Ryan Sessegnon was also linked with lucrative moves to the biggest clubs in the Premier League over the summer, but Cairney told talkSPORT back in July it was vital to keep as much of the squad which got the Whites out of the Championship into the same side.

The Gunners have not signed a homegrown player since Rob Holding from Bolton Wanderers in 2016, with Danny Welbeck’s move from Manchester United two years prior the only other British player to sign for the club in the past four years.