David Luiz, Alexandre Lacazette, Lucas Torreira and Matteo Guendouzi could all leave Arsenal as part of a summer clearout, according to reports.
Arsenal slashed their weekly wage bill by almost £700,000 in the January transfer window, but further cost-cutting measures are planned.
The Gunners need to repay a £120m short-term loan to the Bank of England, and their finances could be further impacted if supporters are not allowed back into the Emirates Stadium next season.
Arteta is willing to sell both players on a permanent basis, with Arsenal expecting to receive around £25m for each midfielder.
The striker earns around £150,000 per week, with Luiz pocketing slightly less at £120,000.
Outgoings could be more significant than incomings at Arsenal this summer, although the club want to make Dani Ceballos and Mat Ryan’s loan moves permanent.
Arteta’s side will resume their Europa League campaign against Benfica on Thursday.
Arsenal’s next Premier League assignment comes against table-toppers Manchester City on Sunday.
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