The Gunners, along with Borussia Dortmund and Newcastle, have all been linked with a move for the 18-year-old during this month’s transfer window.
Standard Sport understands Premier League leaders Arsenal have spoken to Fresneda’s representatives as they attempt to replace Cedric Soares.
The Portugal international is expected to join Fulham on loan for the rest of the season, though the deal is unlikely to include a permanent option to buy.
Cedric worked with Fulham boss Marco Silva at Sporting and is the west London club’s leading defensive target.
They, however, remain reluctant to cover his wages in full as talks continue.
Still, while signing autographs after leaving training with the Spanish club, Fresneda appears to have told Valladolid fans: “No I’m not leaving, calm down.”
Arsenal remain interested in Brighton midfielder Moises Caicedo and are considering a third bid for the Ecuador international.
Any fresh offer for the 21-year-old would likely exceed the club-record £72m fee Arsenal paid for Nicolas Pepe in 2019.
