ARSENAL may be scared off in their bid to sign Portuguese midfielder Miguel Veloso as Sporting Lisbon are thought to want up to £16 million for the player.

The 22-year-old is seen by Arsene Wenger as a suitable replacement for Mathieu Flamini - who joined AC Milan earlier this month - but the French coach will be reluctant to cough up such a large sum.

Also in the offing to fill Flamini's boots is Lille's Jean II Makoun, Roma's Alberto Aquilani and Kolo Toure's brother Yaya, who plays for Barcelona - all of whom would not exceed the £15 million mark.

Veloso will play for Portugal in this summer's European Championships in Switzerland and Austria and his stock will rise if he enjoys a successful tournament, with other top European clubs also monitoring his situation.