Arsenal are in talks to sell Sokratis Papastathopoulos to Olympiacos as they work on luring him back to his native Greece, Football Insider can exclusively reveal.

The Greek club are keen to win the race for signature of the centre-back, 32, amid reported interest from top Spanish and Italian teams.

An Arsenal source has told Football Insider the club are keen to offload Sokratis this month and free up space on their wage bill.

Olympiakos have presented a contract offer to Sokratis that he is currently weighing up.

The experienced campaigner has been deemed surplus to requirements by manager Mikel Arteta and has been frozen out of the first-team squad.

Arsenal are ready to sell the 90-times international on a free transfer as he is out of contract in the summer.

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The Premier League giants recognise they will not be able to secure a major fee this month for a player who turns 33 in June.

Sokratis joined Arsenal from Borussia Dortmund in 2018 for a fee reported at the time to be £18million.

He has played 69 times for the Gunners but has not added to those appearances in his third season at the club.

Like Mesut Ozil before he secured his transfer to Fenerbahce this month, Sokratis has not made a single matchday squad this season.

Arteta has made it publicly and privately clear there is no future for the defender at the club and it is likely he won’t feature for them again.

In other news, West Ham may be signing Arsenal player in ‘£20m’ deal.