Arsenal missed out on the signing of Real Madrid midfielder Federico Valverde back in 2016 despite finding a verbal agreement with the Uruguayan, as per AS (via Sport Witness).The Gunners were the frontrunners to sign Valverde when he played for former side Penarol before joining Real Madrid.A deal was agreed between Arsenal and Valverde's agent at the time but no paperwork had been signed by the player and the Premier League club. Valverde finished the South American Under-17 Championship as the second top goalscorer with eyes from Los Blancos on him.Arsenal reportedly agreed on a €3 million deal with Penarol for the midfielder but Madrid ended up signing him for €5 million.ESPN FC@ESPNFCVALVERDE HAS SCORED THREE GAMES IN A ROW 614252633VALVERDE HAS SCORED THREE GAMES IN A ROW 📈 https://t.co/wHH2dczbWeValverde has flourished at the Santiago Bernabeu with his 2021-22 campaign being his breakout season.The Uruguayan made 46 appearances for Real Madrid and his performances in the Champions League winning campaign particularly impressed.His form has carried over into this season with the midfielder making nine appearances, scoring four goals and contributing two assists.It is not the first time Arsenal have missed out on a big signing, with the Gunners renowned for top talent going onto flourish at other clubs.Legendary manager Arsene Wenger has stated in the past how the north London side missed out on signing the likes of Lionel Messi and Cristiano Ronaldo.Arsenal have their own star in former Real Madrid midfielder Martin OdegaardOdegaard has shone for the GunnersOne player the Gunners have managed to lure to the Emirates Stadium and who has excelled is Odegaard.The Norweigan joined on a permanent deal last summer for £30 million and has quickly become a talisman for Mikel Arteta's side.He has made 67 appearances, scoring 12 goals and contributing seven assists.Odegaard has been made the Gunners' permanent captain by Arteta and his form this season has wowed fans.The former Real Madrid youngster has found the net three times in seven appearances, including a delightful double in a 4-0 mauling of Bournemouth.Arteta was eager to sign Odegaard from Madrid despite some reservations from fans following his prior loan spell with the club.The Spaniard has praised the midfielder (via Mirror):“It was easy to make the decision to try to get Martin permanently at the club because we had the loan period to understand him. First of all to understand the human being, how he was as a person, the issues he had in the past, for him to understand what we are looking to get from him and once you put it all that on the table it was easy to see he could be a player that could make differences for us.”Arsenal Buzz@ArsenalBuzzCom🗣️ Paul Merson on Ødegaard: “At the moment, I’ll put Odegaard at #5 [midfielder in the Premier League] because he’s taken #Arsenal to another level this season. He’s got a swagger about the way he plays and moves, while he’s also added goals to his game.”[via @Sportskeeda]1837115🗣️ Paul Merson on Ødegaard: “At the moment, I’ll put Odegaard at #5 [midfielder in the Premier League] because he’s taken #Arsenal to another level this season. He’s got a swagger about the way he plays and moves, while he’s also added goals to his game.”[via @Sportskeeda] https://t.co/Kc5ocfGr6z