Spurs in talks with Zenit over Arshavin but club will not meet £21.5m valuation

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Despite starring at Euro 2008 for Russia, Arshavin's hopes of joining Barcelona have faded after a £13m bid was rejected, and talk of a move to Arsenal has also gone quiet.

Too much: Spurs do not believe midfielder Andrei Arshavin is worth £21.5m.

'With Tottenham we have contacts,' said Zenit sporting director Konstantin Sarsaniya.

'They are really interested in acquiring Andrei but, as I understand, £21.5m is too high a price for them.'

Spurs will finance any moves for Arshavin, David Bentley, Roman Pavlyuchenko, of Spartak Moscow, and Real Zaragoza's Diego Milito with the £40m they hope to bank from selling Dimitar Berbatov and Robbie Keane to and , as well as the £23m package that could see Steed Malbranque, Pascal Chimbonda, Younes Kaboul and Teemu Tainio move to .

Blackburn yesterday indicated they will sell Bentley if Spurs or meet their valuation of the England winger, believed to be around £17m.

Rovers chairman John Williams said: 'We have received two bids but neither have come anywhere close to our valuation which is based in line with how we see the market.

'We don't want to lose David but if we do get a bid that meets our valuation then ultimately it comes down to a football decision.'