The 20-year-old was heavily tipped for a move to the Emirates in January, although the Gunners failed to meet his asking price and Bayern rejected the transfer.
Reports suggested Arsenal would make a second bid this summer – although they looked set to face race from Bayern Munich – with Draxler’s £37million release clause still active.
But the Champions League holders have now ruled out a potential swoop, with chairman Karl-Heinz Rummenigge insisting the 20-year-old isn’t in the club’s plans.
He told Die Welt am Sonntag: “We are not buying any player from Dortmund or Schalke just to hurt these clubs.
“We are just buying players who can give FC Bayern more quality straight away. I can rule out that we will sign Julian Draxler in the summer.”
Meanwhile, Bayern striker Mario Mandzukic – who has been related with Arsenal and Chelsea in recent times – is expected to stay with the club.
He added: “I am aware that several clubs are interested in him but I think he will stay past the end of this season.
“I am noticing something by the players. They know what it means to play for Bayern and they appreciate it. They live in a beautiful city, a beautiful stadium, the best manager and the club is well known internationally.” reports mirror
SoccerLeagueUpdates 