Arsenal have launched a search for a new shirt sponsor.
Current sponsors Emirates still have two years to run on their current agreement.
The Daily Mail says the fact the FA Cup winners have begun their search so far in advance suggests Emirates, who have a stadium naming rights deal with Arsenal until 2028, want to continue only with the ground contract.
The airline, who are said to be disillusioned with football, are also expected not to renew their £10million-a-year FA Cup partnership that has one year to go.
It would also suit Arsenal to maximise their kit revenues by separating it from the stadium sponsorship. That currently brings in a combined £30m a year compared to Chelsea's £40m from Yokohama Tyres.