Arsenal are ready to listen to offers for record signing Nicolas Pepe as they look to generate funds for another summer spending spree, the Sun reports.

But the North London club are resigned to taking a massive hit on the Ivorian international who cost £72million when he joined from Lille three years ago.

The 26-year-old Côte d’Ivoire star has not started a Premier League game for more than six months and does not feature prominently in Mikel Arteta’s long-term plans.

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And with their young squad already cut to the bone by a number of recent departures, Pepe is regarded as one of the few remaining fringe players who could generate any kind of fee.

He still has two years of his £140,000-a-week Arsenal contract to run and matching those wages could prove a major stumbling block for interested clubs.

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But the player has become increasingly frustrated with his lack of first team action after becoming an almost permanent fixture on the subs’ bench this season.

And with Bukayo Saka, Gabriel Martinelli, Emile Smith Rowe and the on loan Reece Nelson all competing for the wide attacking positions, Arsenal are not short of options should Pepe leave.

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Now it is understood that the club would be prepared to let him leave for a fee of around £25million before his value drops even further.

There were huge hopes for Pepe when owner Stan Kroenke dipped into his pocket to personally fund the player’s signing in the summer of 2019.

But he has been a major disappointment during his three seasons in England and would welcome a return to one of the major French teams or a move to Spain or Italy.