ARSENAL have dismissed as "speculation" reports in Italy that they have offered £7 million for Lazio's prolific striker Giuseppe Signori. Lazio's chairman, Sergio Cragnotti, is said to have discussed the offer on Monday with Signori's agent, Oscar Damiani, but was likely to refuse it.

Corriere dello Sport said Cragnotti was unlikely to sell Signori at any price as he was planning to rebuild the Roman team's squad around the striker next season. He has scored more than 100 goals in his last five Serie A seasons.

Cragnotti virtually sold his captain to Parma two seasons ago, only to pull out of the deal at the last minute after virulent protests by Lazio fans.

But a spokesman for Arsenal said the reports were pure speculation on behalf of the Italian media.

Meanwhile, Graeme Sharp yesterday abandoned his attempts to restore Oldham Athletic to a position of respectability in English football when he resigned as the Lancashire club's manager.

Former Austria coach Alfred Riedl was yesterday named as Liechtenstein's new boss. Riedl, coach of the Austrian national squad from 1990 to 1992, takes over from Dietrich Weise, who resigned following an 11-1 loss to Macedonia in a World Cup qualifier in November.

Riedl has spent much of his coaching career in Morocco, Eygpt and United Arab Emirates. He was manager of Iran before joining Liechtenstein. Liechtenstein's team of part-timers have lost all four of their World Cup matches, conceding 21 goals while scoring just twice, and are in the Republic of Ireland's group.