Arsenal are hoping to raise £40m from selling Nicolas Pepe and Lucas Torreira.

Uruguay midfielder Torreira is currently on loan at Fiorentina and would available for £15m, per FourFourTwo.

Pepe has yet to live up to his £72m price-tag, and the Gunners are willing to cut their losses by selling him for £25m.

Fiorentina are reportedly keen to activate a buy clause for Torreira.

AC Milan are said to be interested in Pepe, who joined Arsenal from Lille in 2019.