Arsenal could consider the permanent sale of Lucas Torreira during the current transfer window, Tuttosport claims.
The Uruguayan joined Atletico Madrid on a season-long loan in the summer, but he has managed just 469 minutes of playing time.
The Gunners are concerned that the limited game time could reduce his transfer value and they are prepared to mutually terminate his contract this month.
It is added that the north London club could sanction his permanent sale thereafter with AS Monaco keen on signing him.
The Gunners bought Torreira from Sampdoria for around £25m, but they are unlikely to recoup the entire transfer fee.
Instead, they may have to accept a cut-price deal of around £15m for the midfielder, who is not in the plans of manager Mikel Arteta.
Arsenal have been one of the in-form sides in the Premier League over the past month with four wins and one draw.
They can climb into the top half of the table, should they beat Southampton away from home on Tuesday night.