The Spaniard was reportedly eager to leave the north London side in the previous summer transfer window but was convinced to stay by Arteta for one more season.
Bellerin has been a consistent starter for the Gunners in the right-back/right wing-back role this term registering 28 appearances, but his future is uncertain.
He will enter the final two years of his contract in July this year and it is reported that the club may sanction Bellerin’s sale as part of the deal with Arteta.
At 25, Bellerin has made 232 appearances for the Gunners but his performances over the past few seasons have been inconsistent.
Injuries have played a part in that and there has been criticism from some supporters over his vulnerability at the back.
Despite this, he has remained a consistent starter under manager Mikel Arteta but the club may be planning for the future.
Norwich City’s Max Aarons has been identified as a possible target but he may not be an upgrade, given he is more of an attack-minded full-back.
Brighton and Hove Albion’s’s Tariq Lamptey is another player on their radar and he has proved his credentials in the top-flight where he has impressed with both facets of his game.
Stats from Transfermarkt.com