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Arsenal star playmaker Mesut Ozil rejected a mega offer from China and opted to remain in North London instead.
The 29-year-old signed a new three-year deal for the Gunners on Wednesday bringing closure to months of speculation.
According to the source, Guangzhou Evergrande were ready to pay the 29-year-old German a whopping £22m per year
Ozil is understood to be content with life in North London and has been assured the club will make a significant improvement to the squad in the near future.
The Germany international provided the assists for Arsenal’s only goal during their 3-1 loss to Swansea City on Tuesday.
Ozil is expected to resume action this weekend when Arsenal play host to Everton at the Emirates in the Premier League.
The Gunners currently occupy the sixth place with 42 points after 25 games.