The 27-year-old joined Mikel Arteta’s side from Real Sociedad back in the summer of 2025 for a reported £55 million.
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Zubimendi played a key role for Arsenal last season but seems to have fallen out of favour in 2026-27 and is yet to start a single Premier League game.
According to Spanish outlet Sport, Atletico Madrid are keen on bringing the midfielder back to his home country in January.
It’s also understood that Arsenal are looking to raise some funds in January and would be open to selling Zubimendi.