Pierre-Emerick Aubameyang is in talks with Barcelona as he closes in on a beat-the- deadline move to Spain.
It would be an incredible gamble from Arsenal to allow Aubameyang to leave as they are running out of time to bring in a replacement before the transfer window closes.
Barcelona still need to reach a financial agreement with Arsenal and to also make sure any deal falls into line with La Liga ’s spending rules as they look to offload Ousmane Dembele.
But Barcelona are confident they will be able to get a deal over the line with the Spanish club expected to pay the vast majority of his £350,000-a-week wages and the deal looks likely to happen.
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Aubameyang, 32, has been left as an outcast at the Emirates after a series of fall-outs with Mikel Arteta but he has 18 months on his current deal.
But Arsenal, who have been struggling for goals, are still willing to let Aubemeyang go as they continue to ship out players during this window.
Arsenal have held talks with Crystal Palace about a £6m move for Eddie Nketiah but the striker is likely to see out his current deal and become a free agent in the summer.
Gunners boss Arteta has been keen on Juventus midfielder Arthur Melo but they are running out of time on signing a striker as well. Arthur is keen to join but despite serious negotiations that now looks unlikely.
Arsenal’s window has been about outgoings with Aubameyang now set to go while Pablo Mari, Ainsley Maitland-Niles and Folarin Balogun all going out on loan.
Calum Chambers joined Aston Villa last week in a surprise permanent deal and now Arsenal are left looking around for last minute deals.
They have not given up on a deal before the window shuts but the chances are fading and that means they will have to prioritise a midfielder and forward in the summer while hoping they do not leave themselves short for the run-in.
Arteta has been open about his club's transfer business this month, admitting after Arsenal's limp 0-0 draw at home to Burnley before the winter break: "It's what we planned [January business], but the market is difficult, it's complicated.
"We knew that, but it's a lot to manage and we have to make the right decisions with players that we believe are going to really help us and try to bring in ones that can take us to the next level.
The Gunners boss added: "We are certainly trying, but I don't know if we're going to be able to do it. Let's see, it's not only our intention, but a lot of facts that are needed to happen.
"Players that come here have to be able to take us to the next level. We already have a level, and we want to see much better standards than we already have, and that is how we're going to recruit."
