Martinelli's representatives have told Arsenal that the Brazilian has no interest in a move to Turkey at this stage of his career, according to The Athletic, closing the door on a deal that would have ranked among the club's most lucrative sales.
Galatasaray's offer, worth around £38.4m, was formally submitted this week as the Turkish champions made the 25-year-old one of their top attacking targets, but his camp made their position clear before Arsenal had to decide whether to accept.
Martinelli has been with Arsenal since joining from Ituano in 2019 for around £6m, and while he has grown into a key part of Mikel Arteta's squad over the years, his role has diminished in recent times, often rotating with Leandro Trossard, whose own departure to Beşiktaş this summer had raised expectations that Martinelli might be given a more central role rather than face a fresh challenge for his place.
The winger's contract runs until 2027, with Arsenal holding the option of a further year, and he scored 11 goals and added seven assists in 53 appearances across all competitions last season.
Arsenal remain open to selling Martinelli if a suitable offer that meets the player's approval materialises, but with his camp ruling out Turkey and no other concrete interest currently at an advanced stage, he looks set to stay at the Emirates Stadium for now.
The development is a boost for Arsenal's squad depth as they continue their own pursuit of further attacking reinforcements, having already missed out on both Morgan Rogers and Vinícius Júnior this summer.
Galatasaray's proposal would have represented a club-record departure fee for Arsenal, eclipsing the £35m they received from Liverpool for Alex Oxlade-Chamberlain in 2017. Fabrizio Romano, who covered the story alongside The Athletic's David Ornstein, reported that Martinelli had never seriously considered a move to Turkey at this stage of his career and that nothing is expected to develop with Turkish clubs in the coming weeks.
AS Roma have also been credited with past interest in the Brazilian, though that pursuit appears no more advanced, leaving Martinelli's immediate future firmly in north London regardless of the scale of Galatasaray's opening approach.