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His arrival at Arsenal could see a number of players leave the club, either because their game time will be further limited or because the Gunners would need to raise funds through sales.
The player has been linked with a move to Arsenal since the summer.
His stock has only risen since due to his performances for Shakhtar Donetsk in the Champions League.
And now the Gunners are reportedly closing in on a deal to sign Mykhaylo Mudryk in January.
The winger’s arrival, dubbed the ‘Ukrainian Neymar’, could lead to several permanent exits from the Emirates.
Shakhtar were thought to want up to £86million (€100m) for the 21-year-old.
But the Mirror claims they would only demand around £40m up front, plus add-ons.
Here are the five players who could leave on permanent deals in January to make way for Mudryk.
Nicolas Pepe
The Ivory coast winger is currently on a season-long loan at Nice. However, there doesn’t appear to be a future for him in north London.
Arsenal could look to push through an early exit in January to get his hefty salary completely off the wage bill.
Reiss Nelson
The 22-year-old was the forgotten man at Arsenal at the beginning of the season.
After returning from a loan spell at Feyenoord, he has finally started to make an impression on the Gunners’ first team.
However, his contract expires at the end of the season.
January could be the last chance Arsenal get to receive a sizable transfer fee for him.
Cedric Soares
The Portugal international has made just four appearances so far this season and only one start.
Ben White’s emergence at right-back has demoted him to third choice in that position.
He still has 18 months remaining on his contract, so he still holds some value.
There is reported interest from across Europe, as well as Fulham who are managed by compatriot Marco Silva.
Albert Sambi Lokonga
The return to fitness of Mohamed Elneny and exit from the Carabao Cup could limit Lokonga’s minutes further.
There is a sense of disappointment from Arsenal fans over the Belgian’s lack of progress this season.
Arsenal are also in the market for a central midfielder, which will only hamper Lokonga’s opportunities further.
There is reported interest from Juventus and there will surely be other suitors if he is made available.
Ainsley Maitland-Niles
There isn’t a place for Maitland-Niles in Arteta’s squad. He didn’t want to play at right-back and couldn’t break into the team in midfield.
He is currently on loan at Southampton but it remains to be seen if he will be a part of new boss Nathan Jones’ plans.
At 25, it is time for Maitland-Niles to find a permanent new home.
This article was updated 1 week ago