Monaco have confirmed that their star midfielder Joao Moutinho is free to move to Arsenal.

The French side are reportedly keen to sell some of their highest earning players in order to re-balance their finances.

The sale of Moutinho could see the club make £14million and a saving of £110,000 a week according to reports.

Gunners manager Arsene Wenger is said to be open to replacing French international Matiheu Flamini who is set to join Turkish club Galatasaray.

The Portuguese player has also received interest from Manchester United, Chelsea, Zenit St. Petersburg and FC Porto, but the 28-year-old has expressed that he would prefer to join an English side.

Arsenal played and lost against Monaco in the Champions League last season and the Gunners have been watching Moutinho ever since.