Arsenal are looking for a premium fee to part ways with midfielder Ethan, according to The Times.
The 19-year-old is one of the club’s best graduates, and he only signed a new long-term contract last summer.
However, his future is uncertain after Max Dowman’s emergence, given they operate from similar attacking roles (number 10 & right wing).
Nwaneri was loaned out to Marseille during the second half of last season, and Arsenal are now open to selling him.
Borussia Dortmund, who were first interested in landing Nwaneri last summer, are among those interested alongside AC Milan.
The Gunners want as much as £50 million for the teenage midfielder, who has been described as ‘composed‘ by manager Mikel Arteta.
Arsenal could sell Nwaneri for the right price
The 19-year-old had his breakout season with the Gunners in 2024/25, scoring nine goals and providing two assists from 1,378 minutes.
He went on to commit to a new long-term deal last summer despite concrete interest from Dortmund as well as London rivals Chelsea.
The decision has not proved worthwhile for him. Nwaneri managed just one goal contribution for Arsenal last term before his Marseille loan stint.
He had a bright start in Ligue 1, scoring on his debut against Lens, but his minutes were drastically reduced after manager Roberto De Zerbi’s exit.
Arsenal are now prepared to sell Nwaneri for the right price. £50m seems an irrefusable offer, given he would provide pure profit for financial purposes.
As things stand, no suitable proposals are on the table for the youngster, but Dortmund and Milan are capable of meeting the Gunners’ requirements.
Milan recently splashed the cash to land Paris Saint-Germain striker Goncalo Ramos for £60m.
Meanwhile, Dortmund have added a new playmaker to their ranks in Genk wonderkid Konstantinos Karetsas for around £28m with a sell-on clause.
Arsenal could offer some leeway in negotiations for Nwaneri, but they should seek £35-40m upfront, with easy performance add-ons taking the fee to at least £45m.
Stats from Transfermarkt