David Ornstein reports that both Barcelona and Juventus have made official moves to sign Pierre-Emerick Aubameyang on loan.

The Athletic write that Arsenal have received approaches from Barcelona and Juventus over a loan for Pierre-Emerick Aubameyang until the end of the season.
Arsenal had previously received an offer from Al Hilal in Saudi Arabia for a loan with an option to buy, but that didn’t appeal to Aubameyang.
It’s also likely that ship has sailed, as Al Hilal close in on the signing of Odion Ighalo. Though fellow Saudi Arabian club Al-Nassr FC are reportedly still not giving up.
Aubameyang’s preference is clearly to remain at a top European club.
But his potential move to Barcelona and Juventus depends on their ability to compromise with Arsenal on his wages, as well as on what happens to Alvaro Morata.
If Morata joins Barcelona (which seems unlikely right now), then Aubameyang would be more likely to end up at Juventus.
If Morata stays at Juventus, then Barcelona would push for Aubameyang instead.

As for Arsenal, it’s still “unclear” what they plan to do. You’d imagine they’d sanction a move if it freed up a significant chunk of wages and they secure a replacement first. Otherwise, it’s a difficult decision.
Is it worth keeping Aubameyang just in case, even if he’s currently out of the squad? Is there a way back for him at Arsenal? Or is it best to cut ties even without a particularly large financial incentive or replacement?
That’s the call Arsenal may well need to make before Monday.