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Arsenal transfer news: The latest & LIVE player rumours from the Emirates Stadium

Jose Mourinho is ready to offload Henrikh Mkhitaryan in the summer as he looks to make room for Arsenal playmaker Mesut Ozil, reports The Daily Mirror .

The Armenia international has fallen out of favour at Old Trafford and hasn't featured for Jose Mourinho's side since November.

And the Manchester United boss is now ready to cash in on the former Dortmund star and replace him with Ozil, whose contract with the Gunners expires in 2018.

VALENCIA JOIN WALCOTT HUNT

Theo Walcott Arsenal 2017

La Liga title challengers Valencia are among those mulling over a move for Arsenal winger Theo Walcott, reports El Gol Digital .