The 34-year-old defender was in the final season of his contract with the La Liga outfit which provoked the Gunners to make an offer.
However, Unai Emery’s efforts were in vain as the veteran agreed to a year-long extension on his deal with Atletico.
According to the Spanish news outlet, AS, Juanfran is only eligible to stay at the Wanda Metropolitana for another season if he completes 25 appearances this season.
He is currently at 22 for the 2018/19 campaign. The Gunners are looking for the next experienced head who will be able to serve as an able backup for Hector Bellerin.
The latter is expected to miss a significant chunk of the next season due to his anterior cruciate ligament injury this term. Stephan Lichtsteiner only signed a year-long contract last summer and it is unlikely that the Swiss international’s will be renewed again.
Many Arsenal fans would consider the former Juventus right-back to be an able figure as a second stringer while some have expressed heavy criticism.
Juanfran was arguably one of the best Spanish fullbacks in the past decade with a lot of experience in the European top-flight.
He could have been a quality addition into Arsenal’s backline but Emery will have to look elsewhere now.
See Also: Arsenal Transfer Players In & Out 2019: New Players Bought/Signed