Baloy currently plays in Mexico (c)
ARSENAL have had a reported bid of £1.5million rejected for defender Felipe Baloy by Mexican club Monterrey.
The Gunners have been told to cough up Baloy's £2.25million buyout clause, although sources close to the negotiations say a deal is unlikely at this stage.
Panama international captain Baloy, 27, has made 26 appearances for his country, scoring one goal.
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