Arsenal’s £17.6m Juan Cuadrado bid has been reportedly rejected by Italian Champions Juventus who are believed to be holding out for £30m with Tottenham also keen on the former Chelsea reject.With Alexis Sanchez likely to leave the Emirates this summer, the Gunners are in the market for a replacement. And are targeting the Colombian — but face serious competition from Tottenham.Juventus are looking for around £30m before agreeing to sell. Cuadrado joined the Serie A giants in the summer of 2015 after an underwhelming six-month spell at Chelsea. Despite proving his worth, he has struggled to nail down a starting place — and Massimiliano Allegri would be willing to allow him to leave in order to fund other moves.Juventus are keen on hot shot Federico Bernardeschi, but know that Fiorentina won’t sell their prize asset to their arch-rivals on the cheap. While they are also closing in on a deal for Bayern Munich ace Douglas Costa.Arsene Wenger is keen for flare players in the eventuality of losing Sanchez, and Cuadrado fits the bill. The Chilean international is a target for Manchester City and Bayern.Cuadrado’s time at Chelsea is possibly misleading as he joined midway through a season — and was competing with red-hot Eden Hazard and Willian for a starting berth.