Yet even if Arsenal do activate Pavon's release clause, the Argentina global is concerned a move may hinder his Federation Internationale de Football Association 2018 World Cup hopes and would need assurances from coach Jorge Sampaoli, per The Independent's Ed Malyon.
Pavon's club form was recognised a year ago when he was handed his senior global debut, claiming an assist in each of his two caps to date.
"For the moment, we have not received any proposal, formally or informally", Angelici said.
Reports in Argentina suggest Wenger is prepared to trigger Pavon's buyout clause, but Boca president Daniel Angelici claims no bids for the youngster have been received. "For now, they are all rumours, as always, just comments in the corridors", he told reporters. I am not going to cut off his career, but we made him a nice contract so that he would be comfortable.
While Boca obviously want to keep the forward, if Arsenal do activate his release clause, the decision would then be up to the player.
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Should Pavon be able to help Boca to Libertadores glory they would be happy to cash in on the talented wideman, but there remains the possibility that performing in some of South America's highest-pressure knockout games could attract competition for his signature.
Arsenal have submitted an enquiry for the Boca Juniors winger as the Gunners aim to prepare themselves for life after Alexis Sanchez, who is most likely to exit the club, with Manchester City being his preferred destination.
If Sanchez does leave Arsenal in January, a replacement will be needed, and Pavon is available at a reasonable price in today's market.
Cristian Pavon had been linked with a £27million switch to the Gunners, who are reportedly looking for a replacement for Alexis Sanchez.
The 21-year-old would be a very good addition for Arsenal and they can afford him as well.