EXCLUSIVE | By Arsenal correspondent Tony Hughes

Arsenal will refute all offers for Laurent Koscielny this summer, Football Insider sources understand.

The France defender has emerged as a target of Real Madrid and he is also being monitored by Bayern Munich.

However, Football Insider understands that Arsenal have no intention of cashing in on the 29-year-old and will reject any bids for him.

Manager Arsene Wenger regards Koscielny as the club’s most reliable centre-back, and his partnership with Per Mertesacker the bedrock of back-to-back FA Cup triumphs.

Koscielny signed a new £100,000-a-week contract 12 months ago and Arsenal are in a strong enough financial position to withstand concerted interest in their best players.

Real Madrid have shortlisted the Frenchman as a possible replacement for Sergio Ramos, whose future is in growing doubt.

As reported by Football Insider, United have lodged a £35million bid for the Spain international after learning that he could be prepared to quit the Bernabeu this summer.

The 29-year-old met with Real officials on Wednesday morning and, according to Spanish reports, did not give the club any assurances that he wanted to stay.

Real manager Rafael Benitiez does not want to cash in on Ramos, who is rated in the £50million bracket by the 10-times Champions League winners, but a shortlist of possible replacements has been drawn up.

Koscielny is among the possible targets to replace Ramos and the Spanish club hope that news of their interest could turn the Frenchman’s head.

However, Arsenal are confident that the experienced centre-back will still be at Emirates Stadium next season.