Departing Liverpool No2 Zeljko Buvac must accept a major pay-cut if he wants to take charge of Arsenal.

The Sun says Gunners chiefs have already sounded out whether Buvac would be interested in the role.

But he is also on a shortlist at Borussia Dortmund, where he spent seven years as Jurgen Klopp's assistant before following the German to Merseyside back in October 2015.

The terms on which Buvac, 56, is being considering are to work on much reduced finances compared to Champions League teams.

Arsenal's failure to beat Atletico Madrid in their Europa League semi-final ruled out a return to Europe's elite, meaning restricted cash for the new manager.

That has given Buvac an edge over former Barcelona boss Luis Enrique, who will demand monster £15million-a-year wages — not to mention mega-money to revamp Arsene Wenger's squad.