The Gunners have already sanctioned loan deals for Sead Kolasinac to join Schalke and William Saliba to spend the rest of the season in Nice.
And manager Mikel Arteta admitted earlier this month: “There are players who will leave on loan or leave and that’s the priority right now. ”
So who else will be saying goodbye to North London soon?
Here’s a look at five players who may be on their way in the near future.
Surely the player who has gained the most column inches this month.
The Mesut Ozil saga seems to finally come to a conclusion, with a passage from the Turkish side of Fenerbahce seemingly closer than ever.
The German midfielder certainly didn’t do much to downplay a move during his Twitter Q&A on Monday, admitting he grew up as a fan of Fenerbahce and comparing them to Real Madrid.
With his agent currently in talks with them and DC United, it only seems a matter of time before Ozil finally closes the curtain on a real roller coaster of a spell at Arsenal.
Runar Alex Runarsson
Alex Runarsson was recruited this summer as a substitute goalkeeper for No.1 Bernd Leno after Emiliano Martinez left for Aston Villa.
The Icelandic international has failed to impress so far, however, and was far from convincing in his last appearance in the 4-1 Carabao Cup quarter-final loss to Manchester City.
There is speculation he could be transferred just four months after joining the club, with Arteta reportedly ready to leave him on loan to a championship club to gain valuable playing experience.
And that could pave the way for Arsenal to sign another new goalkeeper, with Arteta confirming his interest in doing so recently.
Greek center-back Sokratis has fallen down the pecking order and has yet to make an appearance all season.
The 32-year-old is believed to have no future in the Emirates and seems almost certain to have played his last game.
Spain is believed to be the most likely destination for Sokratis, with Real Betis showing the most interest to date.
And Arsenal would be happy to let him go for free in order to withdraw his whopping £ 92,000 a week salary.
Another center-back is Shkodran Mustafi who is now deemed to be surplus to requirement.
The German was strongly linked with a summer start, but in the end nothing materialized.
He has only made three Premier League appearances since, however, and this is another that Arsenal want to slash payrolls.
It was recently reported that Mustafi has turned down a move to the Italian side of Genoa, and it might be more difficult than expected to find a potential suitor for the 28-year-old.
His contract is set to expire this summer, which means this is the last opportunity Arsenal has to recoup some of the £ 35million they spent on him in 2016.
The third and final undesirable defender in the Emirates is somewhat of a forgotten man.
Calum Chambers made his first appearance in nearly a year in December when he returned from a serious knee injury to replace Rapid Wiena in the Europa League.
Yet since then he’s only appeared one more time against Dundalk, and surely the best thing would be a fresh start.
Figures like West Ham and Leeds have shown interest in the past, and it remains to be seen who will replace him in the weeks to come.