Arsenal are demanding £13.4m for striker Lucas Perez, with Deportivo de La Coruña and Newcastle United interested, according to the Evening Standard.
Perez had a difficult first season at the Emirates last campaign and started only two Premier League games.
Despite the 28-year-old scoring a hat-trick in Arsenal’s 4-1 victory over Basel in December, the striker was unable to earn a starting role in Arsene Wenger's side.
Perez moved to Arsenal from Deportivo La Coruna last summer for £17.1m, but could now be on his way out after just one season.
Despite a difficult season, Deportivo are believed to have tabled a £9m bid last week, in order to re-sign the Spaniard.
Furthermore Premier League new boys Newcastle United are also reportedly interested in the striker with Rafa Benitez needing attacking reinforcements for the upcoming campaign.
It is reported that Newcastle hope to land a loan deal for the forward, after being put of a permanent deal by his £13.4m valuation.
Perez is thought to be desperate for first team football, with the World Cup next year and but Wenger claimed on Sunday that Perez remained part of his plans for next season.
However, the player’s agent, Rodrigo Fernandez Lovelle, has come out to reject Wenger's claims: "If he [Wenger] said Lucas was leaving he would have to cut the price for him to exit," said Lovelle.
"It is logical [to say he is staying] – he is a good businessman."
Most expect Perez to leave this summer however it is still to be seen whether he will return to Spain, or get another chance to prove himself in the Premier League with Newcastle next season.