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Arsenal and Liverpool will need to act fast if they are to beat Atletico Madrid to PSV winger Zakaria Bakkali - who has been dubbed 'the next Eden Hazard'.
Reports in Spain suggested that the player had reached agreement over a move to Madrid.
But PSV technical director Marcel Brands has denied that a deal has been done, although he admits Atletico have shown interest.
He said: "It is certainly not done but Atletico are very interested and know what we want.
"We might be able to come to an agreement."
Arsenal and Liverpool and also thought to hold an interest in Bakkali, but Brands has doubts about whether the youngster will ultimately move abroad this summer.
He said: "To be honest I do not see Zakaria going abroad at this time.
"I don't rule out that he just stays with us.
"There are also some other clubs interested in him, but Atletico is the only one who have made a concrete offer.
"Whether he chooses to stay with us or a transfer, it is now clear what he must do.
"He can still extend his contract with us and then if he chooses to increase his efforts for PSV, with his heart and soul, that's fine.
"If he chooses a transfer, I am also at peace with it."
Source: Daily Express
, Zakaria Bakkali
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