Lucas Torreira is nearing a loan move from Arsenal to Atletico Madrid, but the Spanish side will not include long-term Gunners target Thomas Partey in any deal for the Uruguayan.
Torreira has not featured in any of the Gunners' four matchday squads since the season began, with his two-year stay in north London likely to come to a close this window.
Interest has come in from Serie A, but it is Atletico who have moved ahead of the pack in a departure that is widely expected to come to fruition before the deadline.
As per the Independent, Los Rojiblancos would like to bring Torreira in on loan. However, they will need to shift Hector Herrera before making an official bid. Torino are not out of the picture just yet, but in any case, Arsenal favour a permanent deal above a loan move at this point.
It was thought that Arsenal could use Atletico's interest in Torreira as a bargaining tool in their pursuit of Partey. The Gunners have been linked with the Ghanaian since last summer, but as of yet, he will only be allowed too leave Madrid if his release clause is met, which stands at around £46m.
Given Arsenal's financial predicament, they need to raise funds before they can buy, hence why Torreira could have been used to soften the blow. Fabrizio Romano has poured cold water over these suggestions, insisting that the club will not negotiate over the 27-year-old.
There is hope from their side that Partey will stay, most likely due to the limited funding at Arsenal's disposal. With the window slamming shut on 5 October, the Gunners are desperately scrambling to raise money.
Matteo Guendouzi and Sokratis are two of the players heavily linked with moves away, while Shkodran Mustafi and Calum Chambers are also among those who could be shifted to raise cash. Alongside Partey, Arsenal have firm interest in Lyon's Houssem Aouar, but he too will not be allowed to leave on the cheap.