The Colombian international was all set to make a move to Fenerbahce but the Turkish club would not agree to Arsenal’s £3.5m valuation of the player. They have now switched their sights to signing Malaga’s Carlos Kameni instead.
Nantes’s number one target for the goalkeeping role was Paris Saint-Germain’s Salvatore Sirigu but the Italian opted to return to his home country by signing for Torino.
The Ligue One side have now switched their attentions to Ospina. The 28 year old played for the Gunners in cup competitions last season but was said to be unhappy at the lack of game time in the league with Petr Cech remaining the club’s number one goalkeeper.