Arsenal are set to sell Tomas Rosicky and Eduardo to make room for ex-Chelsea star Joe Cole, according to The Mirror.
As Goal.com UK exclusively revealed previously, the 28-year will move the Emirates on a three-year deal, for £80,000 a week imminently.
This expense will stretch the wage bill and manager Arsene Wenger will be forced to balance the books by selling some of his fringe players.
Both Eduardo and Rosicky have struggled for form and fitness in recent years, while their first-team chances will be threatened further by Cole's arrival.
Aston Villa have been linked with the Croatia international, while a return to the Bundesliga could be on the cards for Rosicky.