Real Madrid President Ramon Calderon says Arsenal is holding the Spanish club ransom over the transfer fee they want for Jose Antonio Reyes. Last week the Arsenal forward declared his intention to move to the Spanish club “as soon as possible.” He was recently left out of the Gunners squad during a third-round Champions League qualifier against Dinamo Zagreb, presumably because Arsenal didn’t want to risk cup-tying the Spanish forward for the upcoming Champions League season. “Reyes will only come if Arsenal agree to our terms,” Calderon said. “I’m not going to pay one euro (more). I’m sorry for the kid if the deal doesn’t go through, but…Arsenal have the last word.” Real, meanwhile, is already setting its sights elsewhere. Coach Fabio Capello is said to be concentrating his efforts on securing the signature of Lyon midfielder Mahamadou Diarra. Once Diarra heard of the interest, he threatened to go on strike if the club refuses to release him. Real has now made $25.5 million offer to Lyon, and is said to be offering certain players in exchange (possibly Robinho), but the French champions are believed to want much more$20 million more.