Roberto Mancini fears Manchester City have lost the initiative in the scramble for Robin van Persie's signature.
Arsenal had been bracing themselves for another approach from City when the teams meet for a friendly in Beijing on Friday but this may not happen.
Mancini has become increasingly unhappy that the Barclays Premier League champions have dithered, possibly missing their chance to capture his prime target, who has told the Gunners he will not sign a new deal when his current one expires next year.
Manchester United and Juventus are also in the hunt for the 28-year-old Dutchman with serious offers on the table and their heritage appeals to Van Persie, who insists his desire to move is fuelled by ambition and not money.
City have the financial muscle to gazump either United or Juventus and can offer an attractive personal package but have become intent on selling Emmanuel Adebayor or Carlos Tevez or both, before signing another striker on big wages, in attempt to acknowledge UEFA's Financial Fair Play regulations.
United's current bid is thought to be £16.5million which is close to the limit of what Juventus can afford.
The Italian champions have limited funds are will not go higher than 20m Euros but hope they can tempt Van Persie to Turin with a place as the spearhead of their plans to dominate Italian football once again and their return to the Champions League for the first time since they were punished for the corruption scandal of 2006.
Juventus are offering competitive personal terms, helped by a lower tax rate, and have the advantage that Arsenal would prefer to sell to a club outside the Premier League.
Nicklas Bendtner is considering a move to Galatasaray in Turkey and Andrey Arshavin has planned talks with two clubs in the Middle East this week.
By MATT BARLOW
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