The Gunners are reportedly willing to allow the Costa Rican to leave with many clubs interested in his signature.
The Costa Rican spent the final part of last season on loan at Villareal after a successful World Cup campaign with Costa Rica had sparked hopes he may come good at the Emirates.
However, it now seems that manager Arsene Wenger has given up on the 22-year-old and will make him available for transfer this summer, with a number of clubs said to be interested in him.
According to the Daily Mail report, Fenerbaçhe, Benfica and Real Sociedad, who are of course managed by David Moyes, are all interested in the winger and would surely be willing to pay that relatively low fee for his services.
Indeed, at that price, he is likely to garner interest from far and wide and could be an ideal signing for a number of Premier League sides as well.
Campbell is still young, and many managers could potentially see him as someone to develop, with his performances in Brazil last summer having highlighted the talent that is there.