Swansea manager Michael Laudrup has told Arsenal even a "ridiculous" offer would not be enough to prise Michu away from the Liberty Stadium.
The Gunners have so far been frustrated in their efforts to bring in Luis Suarez from Liverpool and are reportedly considering alternatives as Arsene Wenger looks to bolster his forward options.
Michu is thought to be one of those alternatives after the 27-year-old Spaniard enjoyed a stunning first season in English football with the Swans, scoring 22 goals after his £2.2million move from Rayo Vallecano.
Michu signed a four-year contract with the Swans in January, and Laudrup has previously stated he values the forward at least £30million.
And the Dane has told Arsenal there is no way Swansea will sell a key player when they would themselves be left with so little time to replace him.
"I think economically the club is very good," said Laudrup. "I know if they (Arsenal) came in with a very late bid, I know that the reaction from the board a...