Both players have expressed a desire to leave Arsenal permanently, and Winterburn thinks they should cash in.
"When you send an established player out on loan, like Torreira who wants to play, are you then going to invite him back to fit into the squad? I don't think he'd be happy to sit on the bench," Winterburn exclusively told Express Sport, in association with bet365.
"It's clear to me that he wants to go. Those players out on loan, who won't be getting so much game time, we have to clear those out to bring new players in.
"Bellerin is still our player isn't he? There are players there who can do a job for Arsenal but are seemingly not in Mikel Arteta's plans, otherwise they likely wouldn't have gone out on loan. We have to move these players on to free up the wage bill."