Arsenal Transfer News: Latest Rumours on Jack Wilshere and Lucas Perez

Newcastle United have reportedly approached Arsenal for both Jack Wilshere and Lucas Perez, but the Gunners are said to be holding out for more lucrative deals.

According to John Cross of the Daily Mirror, Arsenal want to clear both players from their books, but despite their urgency, they turned down offers from the Magpies for both.

In the case of Wilshere, manager Arsene Wenger is said to want £20 million despite the fact the former England international has just a year left on his contract and could sign with a new club for free in January.

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Perez cost the club £17 million last summer and Wenger wants to recoup that fee despite a season of near-inactivity for the Spaniard.

Newcastle manager Rafael Benitez previously confirmed he's interested in the former Deportivo La Coruna man, per Bleacher Report's James McNicholas:

Swansea City and Italian clubs have reportedly also expressed an interest in Wilshere, who regained some of his transfer value on loan with Bournemouth last season. Brighton & Hove Albion have expressed an interest in Perez, but the Gunners have so far rejected all loan offers.

Out of the two players, it's difficult to gauge who holds most value at this point. Perez still has multiple years left on his contract and has been productive when given the chance, per Squawka Football:

His representatives haven't made a secret of the fact he's desperate to leave the club, though, and Wenger is highly unlikely to give him another chance if he stays.

Wilshere once profiled as one of England's top young talents, but injuries have robbed him of much of his athleticism. At the age of 25, he's no longer a prospect―it's pretty clear he's never going to reach the lofty heights many expected.

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His contract situation only complicates matters. After last year's loan, the only realistic time to get any value for the player is this summer―finding anyone willing to pay £20 million would be difficult, even in the current market.

The Gunners may be hoping a team will grow desperate towards the end of the transfer window, prompting a panic-buy near deadline day. But that is a major risk, and if no one takes the plunge, Wilshere could walk for free.

With Newcastle in dire need of more quality―the loss against Tottenham Hotspur showed as much―one has to assume the two clubs could come to some sort of agreement, potentially on a package deal for both.