Once tipped by Sir Alex Ferguson to become United's 'best ever player', Jones hasn't found favour with Jose Mourinho yet.
The Gunners are facing a fight to secure Champions League football this season.
The defender completed a move from Olympiakos on Monday.
Everton have reportedly had a bid for Yannick Bolasie rejected.
The youngster has made just 10 Premier League appearances since breaking through in 2012.
Reports in Italy suggest Costa has been offered to Napoli and Inter Milan.
Defender David Bates has joined Rangers on loan - and could earn a permanent move to Ibrox.
The former Tottenham Hotspur forward and ex-Arsenal defender both feature in our Week 22 line-up along with the likes of Sebastian Giovinco and Jordan Morris.
West Ham United co-owner David Gold has taken to Twitter to show off the club's brand new training ground.
Andre Ayew has left Swansea City for West Ham United.