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Seville president Jose Maria del Nido claims Arsenal have made a £10m bid for their teenage striker Jose Antonio Reyes.
The 19-year-old has scored eight goals in each of the last two seasons and Highbury boss Arsene Wenger is tipped to return with a bigger offer.
However, Arsenal's first approach has been mocked by the Spanish club.
"We haven't so much rejected Arsenal's offer as laughed our socks off about it.
"I told their vice-chairman |