But Real president Florentino Perez will not take "no" for an answer. He has vowed to stick to his policy of signing a Galactico every year and rates Henry, 26, as the best player in the world not already in Madrid.

Arsenal vice-chairman David Dein has already knocked back a world-record 50 million pounds bid from Chelsea for the French goal machine.

And the message from Dein was "forget it" when Barcelona made two attempts to open negotiations. The second offer came last week and included Dutch ace Patrick Kluivert plus 30 million pounds.

Dein met Perez on Tuesday in Valencia at a summit of Europe's top G14 clubs but the Madrid supremo avoided a row by agreeing not to discuss Henry.

He does not want to anger the Gunners by moving for the star with Arsenal and Real on collision course in the Champions League.

The clubs will meet if the Gunners beat Chelsea and Real see off Monaco in the quarter-finals.

But Perez plans to apply maximum pressure on Arsenal after the potential semifinal second leg on May 4.

He is convinced he can make them crack in the same way Juventus and Inter Milan caved in to sell Zinedine Zidane for 47 million pounds and Ronaldo for 28 million pounds.

Madrid have been encouraged by whispers that they are the only club Henry would leave Arsenal for if he cannot fulfil his ambition of Champions League glory.

And Perez believes the lure of playing alongside close pal and World Player of the Year Zidane -- contracted to 2007 -- will help tempt Henry.

Manchester United's Ruud Van Nistelrooy, Roma's Francesco Totti and Juventus star David Trezeguet are also Real targets.