Arsenal Transfer News: Wenger Working on Massive Clear-out to Free Cash

Wes ODonnell@wesodonnellFeatured ColumnistMay 23, 2012

LONDON, ENGLAND - MAY 05:  Arsenal Manager Arsene Wenger instructs his team during the Barclays Premier League match between Arsenal and Norwich City at the Emirates Stadium on May 5, 2012 in London, England.  (Photo by Bryn Lennon/Getty Images)
Bryn Lennon/Getty Images

Arsenal manager Arsene Wenger insists his club won't break the bank this summer, but he is working on offloading as many as seven players to free up some spending cash, according to Mirror Football.

The Champions League-bound English power are looking to sell off at least four players in the next two weeks before making any signings of their own:

Arsenal transfer fixer Dick Law is trying to offload Nicklas Bendtner, Denilson, Lukasz Fabianski and Carlos Vela as a priority in the next two weeks.

In addition to the four unwanted stars, Andrey Arshavin is likely to make his loan to Zenit St. Petersburg permanent, the Gunners want to move defender Sebastien Squillaci and they will reportedly listen to offers for defender Johan Djourou. Also, reserve keeper Manuel Almunia is out of contract this summer as well.

M'Vila has long been an Arsenal target
M'Vila has long been an Arsenal targetMike Hewitt/Getty Images

Both Denilson and Vela were out on loan this past season, and the North London squad is ready to move on without them.

The Arsenal wishlist includes the likes of Rennes midfield Yann M'Vila, relegated Blackburn midfielders Junior Hoilett and Steven N'Zonzi and Chelsea free agent Salomon Kalou.

Wenger has already locked up German scorer Lukas Podolski, but will not move again until he frees up cash courtesy of his own players.

M'Vila will not come cheap, as the Daily Mail reports a potential deal at about £17million. The Mail also says should the deal fall through, Arsenal are already lining up a Plan B in the form of Toulouse midfielder Etienne Capoue, which would reportedly cost about £10million.

Kalou's contract at the Bridge is up, and he only appeared in a career-worst 12 league games this past year. The Gunners were keen on landing him in the winter.

But before any of that happens, Dick Law and Wenger will have to make some moves of their own. While only a few of the names on their potential "clear-out" list are true stars, they should be able to find buyers if they look hard enough.