Plenty of Arsenal news doing the rounds today (5th August) so I've done a quick thread to keep you guys up to date just in case you missed any Arsenal news today.

If you're an Arsenal fan, please give this a read as it'll inform you on all the latest Arsenal news.

La Voix du Nord say Lille defender Gabriel Magalhães wants to join Arsenal after a great meeting earlier this week, but Manchester United have not had their final say.

Arsenal have moved ahead in the race to sign Lille defender Gabriel Magalhães after a meeting at the start of the week when the Brazilian found the North London club's representatives to be particularly convincing. (La Voix du Nord)

Lille are expecting to receive a fee of £27m for Gabriel Magalhães. (La Voix du Nord)

. @lavoixdunord on Gabriel Magalhães: “It is not in the same jersey as Victor Osimhen that we could find Gabriel next season, but rather that of Nicolas Pepe.”

Arsenal have made a formal three-year contract offer to Willian, edging them to the front of the race to sign the Brazilian forward. ( @SkySportsNews)

EXCLUSIVE- @le10sport says Willian will sign a 2-year deal with Arsenal. Everything is sorted

Willian will be officially announced as an Arsenal player next week. He will sign a 3-year contract with the Gunners. ( @guardian)

Arsenal are still in talks with Barcelona to sign Philippe Coutinho. ( @gerardromero - Reliable)

Arsenal's moving for Coutinho is advancing. The Gunners are looking to share Coutinho’s wages with Barcelona, but the deal to take him on loan for a year is still likely to cost around £10m in fees & salary. ( @TelegraphSport)

Arsenal statement: “Our main sources of income have all reduced significantly. Revenue from broadcasters, matchday & commercial activities have all been hit severely & these impacts will continue into at least the forthcoming 2020/21 season.” https://www.arsenal.com/news/club-update-2020

Arsenal: “We have also received significant financial support from our owners, KSE, in terms of refinancing our stadium debt. These steps have all reduced the impact of the pandemic & helped us continue to maintain investment in the team. This will continue to be a key priority.”

Arsenal: “Our aim has been to protect the jobs & base salaries of our people for as long as we possibly can. Unfortunately, we have now come to the point where we are proposing 55 redundancies. We are now entering the required 30-day consultation period on these proposals.”

MAIL EXCLUSIVE- Arsenal SACK head of international scouting Francis Cagigao - who discovered Cesc Fabregas, Gabriel Martinelli and Hector Bellerin - after two decades at the club in Covid cost-cutting

Cagigao is credited with discovering the likes of Héctor Bellerín & Cesc Fabregas & was the driving force behind the deal to bring Gabriel Martinelli to the club last year, personally travelling to Brazil to watch him when he was playing for state side Ituano. [ @charles_watts
]

Sources have told Goal that there is a feeling of bemusement that a club of Arsenal’s stature would move to get rid of so many respected figures within its scouting network in favour of relying on working with agents. ( @charles_watts)

Jack Wilshere on Özil: “In terms of footballing ability, I loved playing with him. He’s one of my favourite players to play with. He’d give you the ball at the right time, the right pace. So I’m surprised he’s not playing, but I don’t know what’s going on there.” (TalkSPORT)

Wilshere on Özil: “There must be something we don’t know because I can’t see why he’s not playing in terms of his footballing ability. Especially with Aubameyang, the type of player he is, you can imagine Özil sat behind him feeding him balls - it would be unbelievable.”

Wilshere on Özil’s situation: “It’s obviously something that we don’t know about. I’m sure Arteta has definitely got a plan & he’s putting that into practice. I’m sure we’re going to find out in the next couple of weeks what’s been going on.”

Emi Martinez: "I showed that I can play, I need to play more games next season. I want to establish myself at Arsenal & become first choice. If I don't play, I'm going to move. I'm going to go where I play more"

Joleon Lescott: "I think Arteta’s departure to Arsenal did have an impact on Manchester City & Guardiola. Arteta was an integral member of the club so he would have left a hole & it’s difficult to cope with that appearing in the middle of a season"

Lescott: "I know the role that Arteta played within that dressing room & he had the responsibility to keep everyone level-headed. Arteta also worked extremely hard with the players & spent a lot of one-to-one time with them that Guardiola wouldn’t necessarily have the time to do"

Lescott: "If I'm honest, I couldn’t see Arteta proving to be this successful so soon as a head coach. He definitely had the knowledge & the energy. He was always a student of the game, but I am surprised to see how quickly he has found success"

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