All the latest transfer news and gossip from The Emirates this morning.
Santi Cazorla is looking increasingly likely to be departing Arsenal this summer for Atletico Madrid- despite his recent comments suggesting otherwise.
But reports are emerging today that Arsenal may have to sell a player to balance the books - and with Los Colchoneros keen, Cazorla might just be the man for the job.
Cazorla is believed to be interested in a move back to Spain - where he has admitted he would like to end his career. At 29-years-old he may never get a better chance then this and it appears a deal is looking likely.
More news on Sami Khedira, as the German World Cup winner continues to be heavily linked with a move to Arsenal.
Yesterday it was reported that Bayern Munich were keen on Khedira remaining at Real for another season. The plan was reportedly to snap him up on a free transfer when his contract expired in 2015.
However Bayern have since denied an interest while Real are still keen to sell - as they need to balance their FFP records after a heavy splurge this summer.
Khedira, who is valued at £25 million, may have to go for less than that if Arsenal are to take a punt on the player.
His wage demands are also believed to be proving a stumbling block to any Emirates deal.
Arsenal have been the subject of a sly jibe from Steve Gerrard. The Liverpool player has revealed how he told Luis Suarez to reject Arsenal's overtures last summer - as he believed the Uruguayan was too good for The Gunners.
Suarez, who was the subject of two Arsenal bids last summer, has since joined Barcelona this summer.
Should Arsenal sell Cazorla?