Arsenal and Tottenham Hotspur both failed with summer bids for Inter Milan striker Lautaro Martinez, according to a report.

With the Serie A champions in financial turmoil for much of the recent transfer window, Martinez was heavily linked with a move to one of the North London clubs for the 2021-22 season.

However, Inter instead garnered £97.5m through the sale of Romelu Lukaku to Chelsea, allowing them to retain the services of Martinez for the time being.

According to Gazzetta dello Sport, Tottenham and Atletico Madrid both saw £76.9m offers for Martinez rebuffed by Inter, while a lower offer tabled by Arsenal was also swiftly rejected.

The 24-year-old is yet to agree to an extension on his existing Nerazzurri contract - which expires in the summer of 2023 - but he is expected to commit his future to the club before the end of the season.

Martinez already boasts two goals from two Serie A games this season after registering 17 goals and 10 assists in the Nerazzurri's title-winning campaign last term.