English football giant Arsenal, after losing out on Vélez Sársfield’s Ricardo Alvarez to Inter Milan, have also lost out on Villarreal midfielder Santi Cazorla who is set to join Spanish club Malaga CF.

Arsenal, previously, was reported to be interested in Cazorla and was also tagged as the ideal replacement for captain Cesc Fabregas who is expected to leave Arsenal for Spanish football giant Barcelona at the end of the month who are set to make a final offer of £33.5 ($54.53) million for the Spanish midfielder.

A transfer fee for Cazorla, 26, is yet to be announced but reports have claimed that it is around €22 million which is a record for the Andulasia-based football club and the biggest of the 10 signings this summer flowing the likes of Ruud van Nistelrooy, Joaquin Diego Buonanotte, Isco, Sergio Sánchez and Jeremy Toulalan.

The Spanish midfielder has signed a five-year deal at La Rosaleda, according to a report by UEFA.com.

Santi Cazorla, who was acquired by Villarreal before he turned 18, has made 181 appearances for The Yellow Submarines scoring 25 goals and has represented Spain at Euro 2008, helping the team win the tournament. Cazorla is a versatile midfielder and can play in the middle and on either flank. He is best known for his speed and ability to change his gameplay accordingly.