Emirates rejects heading Signal Iduna Park and Estadio Vicente Calderón.
Arsenal’s summer exodus will begin this week with the sale of striker Nicklas Bendtner and goalkeeper Manuel Almunia.
Both players were expected to leave the club as they had seen their first-team opportunities limited last year.
Bendtner, 23, is in Germany for talks with Bundesliga side Borussia Dortmund while Sporting Lisbon are also interested in signing him.
The Gunners value the Denmark international at £12million but the Germans have so far offered £9million, according to the Daily Star.
Almunia, 34, is returning to Spain with Atletico Madrid and Malaga both prepared to meet the £1million asking price.
The shot-stopper started lasts season as number one but fell down the pecking order behind young Polish stars Lukasz Fabianski and Wojciech Szczesny.
Neither player travelled with the squad on their pre-season tour to the Far East.
Defender Ignasi Miquel also missed the trip which could mean a deal to sign Bolton centre-back Gary Cahill is imminent. Arsenal have promised the Spaniard to the Trotters on-loan as part of a £17million deal.
This could be the start of the Gunners losing the spine to their squad with Denilson, Andrey Arshavin, Tomas Rosicky and Emmanuel Eboue all linked with exits.
Doubts over captain Cesc Fabregas and playmaker Samir Nasri long-term futures continue with Barcelona and Manchester City both circling.
But rumours of a move to sign Aston Villa winger Stewart Downing look wide of the mark with Arsenal chairman Peter Hill-Wood denying any contact between the clubs had been made.