The process started last summer when Matteo Guendouzi, Lucas Torreira and Henrikh Mkhitaryan left for new clubs.
And it was continued in January after Mesut Ozil, Shkodran Mustafi and Sokratis Papastathopoulos were allowed to leave for nothing.
The fire sale at the Emirates will continue with the former Manchester City assistant keen to bolster funds to acquire his own targets.
According to The Sun, the most high-profile departures will be David Luiz and Alexandre Lacazette – with the former's contract expiring at the end of the season and the latter losing his first-team spot.
Further exits include Guendouzi and Torreira – out on loan to Hertha Berlin and Atletico Madrid respectively.
The plan is to drastically lower the wage bill, which was spiralling out of control in north London.
Sead Kolasinac, Ainsley Maitland-Niles and Joe Willock have also been loaned out with Arsenal saving £16.5m on wages until the end of the season, as per The Sun.
Finding suitors might be a different proposition as Lacazette's departure appears to be mooted with the Frenchman losing his first-team spot in recent weeks.
This article was most recently revised and updated 2 years ago