With the transfer of Draxler almost definitely not happening, this January at least, here is a look at whether not signing the 20 year old will be a catastrophic blunder, or a determined rationality not to overpay for a player who has still not shown everything he is capable of.

Is he what Arsenal need now?

Another back up to Olivier Giroud is something that many believe Arsenal really need to cement their chances of winning the league this year. Julian Draxler is not that. He may be in the future, with some claiming that it is where Wenger sees him playing eventually. This season, he has played 18 times as an attacking midfielder, and once as a left winger.

In the central midfield role Arsenal currently have: Mesut Ozil, Jack Wilshere, Aaron Ramsey, Tomas Rosicky, Mikel Arteta, Mathieu Flamini, Gideon Zelalem, Abou Diaby & Santi Cazorla who can all play in that position. While there are obvious injuries to that list, Diaby is the only one who is expected to be out for the rest of the season.

He would undoubtedly strengthen the depth in midfield, but would it be a bit of a luxury to have that many players in that position?

Is he worth £35m?

Tweets by Jeremy Wilson (Telegraph) and John Cross (Mirror) suggest that it would be a gamble to go for a player who has played in the Bundesliga less than 100 times. Of course he is talented, that almost goes without saying; every Bundesliga expert says that there is a phenomenal amount of potential and his performances have been impressive for a player of his age. A quick look at other players who have gone for that sort of money puts the amount Schalke are asking for into perspective:

Cesc Fabregas to Barcelona- £35m + £5m add-ons: Had captained the gunners for 3 years, in PFA team of the year 2010, creating 466 goal-scoring chances over 5 years.

Mesut Ozil to Arsenal- £42m: German player of the year 2012, Shortlist UEFA best player in Europe 2012 & the youngest in the top 10 for that award.

Eden Hazard to Chelsea- £32m: Second player in history to be voted best player in Ligue 1 for two consecutive seasons, also in Ligue 1 team of the year for three consecutive years.

Sergio Aguero to Man City- £38m: Scored 19+ goals in each of his last four seasons, a regular starter for Argentina from the age of 18, club vice-captain.

Juan Mata to Man United -£37.1m: Chelsea player of the year for both his seasons at the club, Champions League, FA cup, World Cup & European Championship winner.

Julian Draxler does not have as much to justify as £35m price tag as any of those players did when they were bought.

Draxler likes Arsenal, Arsenal like Draxler, what’s the problem?

Schalke do not want to sell him, and they have no reason not to value him at £35m+. He is one of the best young talents in Germany, and is playing brilliant football for them. He has a buy-out clause that comes into effect during the summer and they are pushing for Champions League qualification this season.

They want to keep him as long as possible, and until the buy-out clause does come into play, it is completely up to clubs to match their valuation of their own player.

If he continues the way he is playing, Schalke will probably have no problem finding buyers in that range.

Latest: