Arsenal have limited funds available for the January transfer window unless they can make some sales, according to reports.

James Olley reports for ESPN that Arsenal have limited funds available for the January transfer window, as they aim to stay within UEFA’s Financial Fair Play rules.

Olley claims Arsenal would ideally like to sign Ivan Toney from Brentford, but the striker would cost around £80m this month, if Brentford were willing to sell at all.

Arsenal are unlikely to have that kind of money available, so the summer looks more likely for their pursuit of a striker.

John Cross writes for the Mirror that Arsenal are currently looking to do a loan deal for a defender, but they have no room to work with for a big January deals.

That would only change if Arsenal cashed in on someone like Emile Smith Rowe or Eddie Nketiah before the end of the financial year on June 30th.

Both players are academy graduates, and they would therefore represent pure profit for Arsenal from an accounting perspective.

But unless the Gunners receive significant offers for the duo, there’s not much they can do with that knowledge.

Arsenal’s only real option is to wait and hope for interest in some of the players they wouldn’t mind selling, whilst preparing potential incomings in case that interest arrives this month.