Valencia have admitted they have no choice but to cash in on some of their prized assets to comply with Financial Fair Play regulations, with Arsenal target Shkodran Mustafi possibly in line to be sold.

Following a disappointing season under Nuno Espirito Santo and Gary Neville last term where they finished in 12th place, Valencia have recruited former Manchester United winger Nani and Watford's Mario Suarez, formerly of Atletico Madrid ahead of the 2016-17 season.

Meanwhile at Arsenal, the club are desperately short at centre-half and have held talks with the Spanish side over Germany international Mustafi, although a fee is yet to be agreed.

While Valencia are reportedly holding firm on their £30m valuation, their current figures will not fall in line with Uefa's financial regulations, something that may work to Arsene Wenger's advantage.

"We are above the FFP guidelines, that is the reality, as of today, the four players we have signed cannot be registered, meaning we need to reduce the cost in a significant manner to register the players and sign a centre-back, which is a priority in case one of the ones at our club leaves," Valencia sporting director Jesus Garcia Pitarch told a press conference.

Shkodran Mustafi
Mustafi heavily linked with move to the Premier League Getty

"Obviously, if they don't leave, we can't sign a new one not only because of financial restrictions, but also because it wouldn't be logical to have five or six centre-backs. We need to continue with a reduced budget, but if there is an exit, we need a new centre-back"

With Gabriel and Per Mertesacker injured and Laurent Koscielny lacking match fitness, Wenger was left with little choice but to select 20-year-old Rob Holding and 21-year-old Calum Chambers at centre-half in the club's opening league game of the season, a 4-3 home defeat to Liverpool.

The Gunners boss has come under pressure again after another summer of frugal spending but insists the club will be active in the final weeks of the transfer window.

"We are working very hard. You are convinced that I do not want to spend the money," he told a press conference on Thursday (18 August). "But I want to reassure you we are ready to spend the money we have, as always, but not the money we haven't got. It is not my money. Buying calms the fans down of course. It is important to spend money but it is even more important to spend it in the right way."