Joel Campbell will reportedly sign a new contract at Arsenal this week before being shipped out on loan for the remainder of the season.
The 22-year-old, who made a move to the Emirates Stadium from Costa Rican side Deportivo Saprissa in 2011, has yet to start a Premier League game for the Gunners this season, which has seen him grow frustrated.
Having already spent loan spells at Lorient, Real Betis and Olympiacos in consecutive campaigns, Campbell could now be on his way back out the door with Real Sociedad and Villarreal said to be keen on his services.
However, a report in the Daily Star claims that Arsene Wenger will not allow the forward to leave Arsenal on a permanent move, with a contract extension thought to be on the table.
Campbell has featured just 10 times for the North London outfit this term in all competitions.