Arsenal rejected Spotify's bid to rename the Emirates Stadium - Reports

Arsenal turned down the chance to rename the Emirates Stadium following interest from Spotify founder Daniel Ek, as reported by The Mirror.

The Swedish audio streaming services provider is set to complete a massive deal with Spanish powerhouse Barcelona for the naming rights at the Nou Camp.

With the Catalan giants going through a financial crisis, the deal with Spotify (worth £236 million) could ease the situation of the Blaugrana significantly.

However, it has been reported that Arsenal were first approached by Swedish billionaire Daniel Ek with a proposal to rename the Emirates Stadium.

The Spotify co-founder was interested in buying Arsenal from their American billionaire owner Stan Kroenke. But he was unsuccessful in his efforts to buy the club he supported while growing up.

Stadium naming rights are quite an attractive offer for clubs as they get a lot of money in return.

The Gunners are believed to be looking to renovate the Emirates as per reports despite being set to reveal huge financial losses.

Selling the naming rights to the stadium could have been beneficial for the north London club as they also evidently need to strengthen their squad this summer.

Following their failed approach to rename the Emirates Stadium, Spotify agreed a deal with cash-strapped Barcelona. It could prove to be a game changer for the Spanish giants.

Blaugrana's financial woes saw them lose the best player in the history of the club Lionel Messi last summer on a free transfer.

With the new sponsorship, they can rebuild their squad under the tutelage of Xavi Hernandez.

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Arsenal have a make or break summer ahead of themselves

Arsenal boss Mikel Arteta has a very thin squad at his disposal right now and needs to add both depth and quality in the summer.

Fans have to wait and see if the Gunners can land a Champions League spot for next sason.

Regardless of where the Gunners finish this season, there needs to be a solid investment during the summer transfer window.

With the refurbishment plan of the stadium, it might prove to be difficult for the owners to back Arteta in his pursuit of his transfer targets.

The Gunners have a make-or-break summer ahead of themselves and if they fail to make the best of it, all the good work done by Arteta so far could go undone.