Arsenal are willing to sell Gabriel Maghalaes before the market closes next week.
The Brazil defender is attracting interest from Real Madrid and Saudi Pro League clubs.
The Daily Mail says the Gunners will sell if they can find a replacement first.
Gabriel was a second-half substitute for victory at Crystal Palace on Monday night with manager Mikel Arteta later insisting there were no plans to lose the stopper.
Real are interested after losing fellow Brazil defender Eder Militao for the season with an ACL injury.