Arsenal Football Club of England are ready to discharge Mesut Ozil and Henrik Mkhitaryan

The major reason for this decision is to free up the wage bill to fund FOUR signings in the summer transfer window.

The Gunners attacking midfielders are on a combined £530,000-a-week wages but neither star is even an established first-teamer under Unai Emery.

The £350,000 a week World Cup winner Ozil is the highest earner in the squad but has regularly missed fixtures this season due to illness and minor injuries.

Former Manchester United attacker Mkhitaryan has also failed to justify his £180,000 wages and Emery believes both salaries could be better spent elsewhere, according to the Mirror.

Arsenal’s dire finances meant Emery was restricted to loan signings in the recent transfer window and will be left a budget of just £45million if the Gunners fail to qualify for the Champions League.

With a number of first-teamers on the brink of leaving the Emirates, the Emirates boss will have severely limited money to replace them.

Aaron Ramsey has already agreed to join Juventus in the summer, while Denis Suarez sees his loan from Barcelona come to an end.

Meanwhile, Petr Cech, Stephan Lichtsteiner, Danny Welbeck, Carl Jenkinson and Nacho Monreal all see their deals run-down at the end of June.

Despite the size of his budget, Emery is targeting up to four new signings this summer with the Spaniard’s priority remaining a left-sided winger.

The Gunners are thought to be stepping up his interest in PSG winger Christopher Nkunku after he impressed Emery during his two seasons in charge at the club.

Arsenal tried to sign 21-year-old Nkunku on loan in January but couldn’t agree a deal with the French Champions and signed Denis Suarez instead.

Arsenal will also rival Leicester for Celtic’s Scotland international Kieran Tierney as the Gunners desperate hunt for a left-back goes on.

Meanwhile, the Gunners’ other transfer targets – Yannick Carrasco, Nico Barella and Franck Kessie could depend on whether Arsenal qualify for the Champions League.