Arsenal could have to sell six players to fund the remaining fee left to pay for Nicolas Pepe.
The Gunners splashed a club record £72million in the summer to sign winger Pepe from Lille on a five-year contract.
It came as a surprise following suggestions Arsenal had a tight budget to do business with.
But it later emerged the transfer would be paid in five instalments over Pepe’s Emirates contract.
Bleacher Report have now claimed the Gunners are looking to sell up to six players in the next window to ensure they have the cash to cover the money owed to Lille.
Skipper Pierre-Emerick Aubameyang and strike partner Alexandre Lacazette have both been linked with a move away from London recently, with Mesut Ozil also named as a potential way of recouping money.
The transfer market is due to be affected heavily by the coronavirus pandemic following a loss of ticket sales and television revenue with the season on hold.
Arsenal head of football Raul Sanllehi has already warned staff that transfers are not a priority for the club this summer.
It is understood the Spaniard explicitly played down the prospect of any big-money signings in a weekly video call with chief executive Vinai Venkatesham and all non-playing employees.
The Gunners have been linked with a move for Atletico Madrid midfielder Thomas Partey, who has a £44m release clause, but the deal looks to have hit a major stumbling block.
The club have already looked to cut costs by announcing that most of the first team and manager Arteta have agreed 12.5 per cent pay cuts for the next 12 months.
The North Londoners also confirmed that 14 executives have taken a 30 per cent salary reduction for the next year.