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Lucas Perez’s future remains up in the air after an agreement was not reached with Deportivo la Coruna for the transfer.
La Voz de Galicia report the striker is keen on a move back to his homeland with Deportivo but a 12 million Euro deal “hit the wall” because of interest from other clubs.
Those other teams include Rafa Benitez’s Newcastle and Marco Silva’s Watford, with both options to offer him an escape route out of the Gunners while remaining in the Premier League.
Malaga and Valencia are the other Spanish clubs ready to pounce for the forward should his former side fail to agree a deal with Arsenal.
Perez scored 17 goals in the 2015/16 season for Deportivo, prompting Arsenal to sign him for £17 million.
However, he only made 11 Premier League appearances last term and his first team opportunities appear limited at the Emirates.