Despite having completed a move for Gabriel Magalhaes this week, Arsenal’s transfer business is unlikely to be over just yet.

The Gunners remain interested in Atletico Madrid midfielder Thomas Partey, while noise over some other potential new arrivals hasn’t entirely died down.

For now, though, it’s as much about exits as new arrivals, with the Gunners looking to free up funds by getting some higher earners off the books and bringing in fees that can be spent on new additions to the squad.

We’ve got the latest on a couple of potential departures, as well as an update on Philippe Coutinho - a man whose name has never been far from that of Arsenal in recent weeks.

Bayern deliver update on Arsenal target Coutinho

Philippe Coutinho was hailed by Bayern Munich as 'outstanding' after his loan spell came to an end

Bayern Munich have confirmed Philippe Coutinho will return to parent club Barcelona, marking the occasion with a ‘thank you and goodbye’ message for the Brazilian.

Coutinho won the Champions League with Bayern during his loan spell, scoring in the quarter-final and replacing goalscorer Kingsley Coman in the final against Paris Saint-Germain.

The German champions had an option to make the move permanent but have opted not to exercise it, prompting links with Arsenal.

As part of the club’s message to the outgoing player, Bayern board member Hasan Salihamidzic described Coutinho as "outstanding".

He said: “Even though FC Bayern and Philippe Coutinho are parting ways after just one season, his commitment in Munich has made it clear what an outstanding player he is."

While Coutinho has been linked with Arsenal for much of the summer, the arrival of Ronald Koeman as Barcelona’s new manager means the future of a number of Barca players may be affected.

Napoli join Serie A rivals in Kolasinac race

Sead Kolasinac is reportedly a target for several clubs

Sead Kolasinac is one of a number of fringe players with whom Arsenal could part ways this summer, but the Bosnian’s destination isn’t set in stone.

Roma had been linked with the left-back, having already completed a move for former Gunners man Henrikh Mkhitaryan, while Kolasinac’s former club Schalke had expressed an interest in bringing him back to the Bundesliga.

However, there may now be a second Italian club in the mix, with Tutto Mercato (via Inside Futbol) reporting that Napoli are also keen on the 27-year-old.

Kolasinac, who joined Arsenal from Schalke in 2017, played his 100th game for the London club last season.

However, he started just once after July’s North London Derby, with Kieran Tierney preferred on the left, and only earned a brief run-out as a substitute for Tierney in last weekend’s Community Shield.

Arteta keen to keep Bellerin despite PSG interest

Hector Bellerin is on Paris-Saint Germain's radar

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Arsenal may still need to sell players if Mikel Arteta intends to invest further in the squad during this transfer window, but the manager still considers Hector Bellerin part of his plans.

This is despite Paris Saint-Germain having reportedly made a £25million bid for the Spanish international as they themselves look for a new right-back following the departure of Thomas Meunier.

Arsenal have already spent more than £30m on new signings this summer, and there are other contenders for sales as Arteta prepares to set up his squad for the new campaign.

Midfielders Matteo Guendouzi and Lucas Torreira have both been linked with exits, while there has been interest from Wolverhampton Wanderers in Ainsley Maitland-Niles, but no member of the senior squad has been sold for a fee this summer.