Arsenal boss Unai Emery is ready to oversee a summer clearout.
Emery will head into the transfer window with a budget of as little as £45million.
But the manager, who has impressed the Gunners hierarchy during his first season, has been told he can reinvest a significant amount of any money raised from player sales.
Mesut Ozil and Henrikh Mkhitaryan will be in the shop window.
The club will also listen to offers for Carl Jenkinson and Mohamed Elneny, while Calum Chambers and David Ospina are likely to be sold once they return from their loan spells at Fulham and Napoli respectively.
The departures of Petr Cech and Aaron Ramsey will slash close to £200,000 from the weekly wage bill. Danny Welbeck, who earns around £80,000 a week, is also expected to leave when his contract expires this summer.