The Argentinian endured a difficult start to life in the Premier League.
The Gunners are reportedly willing to take a chance on the Greek forward.
Manchester United have been linked with Youri Tielemans and Leander Dendoncker.
Ibrox side Rangers have already won the Scottish Championship this season and have gained automatic promotion to the Scottish Premiership.
Manchester City take on Stoke City in the Premier League on Saturday before facing Real Madrid four days later in the Champions League.
Arsenal's season has imploded since the turn of the year, with many ex-Gunners turning on Arsène Wenger.
Tottenham Hotspur will take on West Bromwich Albion in the Premier League on Monday.
Everton and Manchester United will face each other in the FA Cup this weekend.
The 23-year-old Danish centre-back has been dropped to the Under-21s by Black after refusing to sit on the bench against Bournemouth.
Andy Sinton heralds Spurs' midfielders and backs his former side to beat West Brom on Monday.
Could the Wales international stopper be the answer to Liverpool's goalkeeping conundrum?
Here's something sent in by one of our readers a few years ago, which may have a particular resonance today.
The Tottenham Hotspur star spent 18 months on loan at Finch Farm.
Former Rangers winger Peter Lovenkrands is in contention for a return to Ibrox.
West Ham United are the current favourites to land the 24-year-old, but could Newcastle United tempt him to Tyneside instead?
The Everton star has been linked with a move to Tottenham Hotspur recently.
The 28-year-old is a shock transfer target for Newcastle United; but would he be an uninspiring addition or a canny signing?
The Tottenham Hotspur player has not replicated his best form since arriving at White Hart Lane.
Jordan Lyden is yet to make a first-team appearance for Aston Villa this season.
Tottenham were linked with Jesse Lingard earlier this month.