Everton boss Sam Allardyce has confirmed negotiations with Arsenal to sign Theo Walcott during the current January transfer window.
Alexis Sanchez could yet remain at Arsenal, but Arsene Wenger is delighted at the prospect of a looming bidding war between Manchester United and Manchester City.
Everton and Southampton are interested in signing Theo Walcott from Arsenal in the January transfer window.
Jack Wilshere suffered an ankle injury during Arsenal's 0-0 draw against Chelsea in the Carabao Cup semi-finals.
The young attacking midfielder first made his way into Arsenal in May 2009 and has gone from strength to strength over the years.
Alexis Sanchez is wanted by Manchester City and United with Arsenal ready to sanction a move if they secure a replacement.
Valencia have completed the signing of Francis Coquelin from Arsenal after beating off competition from West Ham and Crystal Palace.
Liverpool and Arsenal have been given fresh hope in their pursuit of Thomas Lemar with Leonardo Jardim suggesting that the players can leave Monaco this month.
Manchester City, Arsenal and Manchester United are keen on signing Jonny Evans during the January transfer window.
Sanchez seems destined to leave in the coming weeks but it is not yet known who the Gunners are lining up to replace the Chilean.
The north London club stand to lose both Ozil and Sanchez on a free transfer in the summer, while Jack Wilshere is also nearing the end of his contract.
Coquelin has struggled for game time this season and was given permission to leave when Valencia came calling.
Manchester United have launched a sensational attempt to try and sign Alexis Sanchez from Arsenal ahead of rivals Manchester City.
Rafinha Alcantara has agreed personal terms ahead of completing his proposed move from Barcelona to Inter Milan during the January transfer window.
Ancelotti is currently out of a job after he was sacked as Bayern Munich head coach back in September.
Rafinha is unlikely to get regular game time after returning from a long-term injury, while Arda Turan has not played a single minute this season.
Carl Jenkinson joined Birmingham on a season-long loan last summer but dislocated a shoulder in his debut against Reading in August and has not played since.
Arsenal legend Ian Wright believes Mesut Ozil would perform even better if he had the supporting cast available to him at Manchester United.
Alexis Sanchez could return to the Arsenal first team for the Premier League trip to Bournemouth after being left out against Chelsea.
Wilshere was given the captain's armband before the game and he showed his worth with a brilliant performance which came to an untimely end with injury.
Antonio Conte said that his star forward Eden Hazard did not pick up an injury during Chelsea's goalless draw against Arsenal after the Belgium international was replaced with six minutes remaining.
Konstantinos Mavropanos was expected to leave on loan after joining Arsenal earlier in the month but will now remain until the end of the season.