Monday 7 August 2017 09:20, UK
We round up the latest Arsenal transfers rumours from around the British and European press on Monday, August 7.
Alexis Sanchez is set to accept Arsenal's stance and see out his contract before leaving on a free transfer next summer, according to the Daily Mirror.
Arsene Wenger has insisted that he has the backing of the club's board to force Sanchez to stay despite risking losing him for nothing when his deal expires.
And the Daily Star reports that Manchester City are prepared to play the waiting game in an attempt to land top target Sanchez.
They are still hopeful that Arsenal will decide to cash in at around £45m for the Chilean rather than see him leave the club for free next year.
Arsenal are also leading the race in signing Paris Saint-Germain winger Lucas Moura, according to Brazilian publication UOL Sport.
They say that the arrival of Neymar last week has put his fellow Brazilian's future in doubt and manager Unai Emery willing to let him leave the club.
But Wenger admits he must cut down his squad size at Arsenal as he currently has too many options.
"To be honest, the number is too high," he said in quotes carried by the Daily Star. "We will let some players go. Too much competition for places is detrimental, but not enough competition for places is detrimental as well."
One of the players that could be heading elsewhere is Lucas Perez, with Rafa Benitez expressing an interest in bringing the striker to Newcastle.
"I like the player because I have good friends in A Coruna," he told the Newcastle Chronicle. "I know that he did really well. He's come here and not played in many games, but I like the player.
"We know what we need and will try to do it until the end of the transfer window. We are now trying to work in different directions at the time."