Eighteen months ago Arsenal beat half of Europe to Martin Zubimendi's signature. Now, according to TEAMtalk, the Spain midfielder is ready to consider leaving in January, and seven clubs have already been told he might be available. He has not started a Premier League game this season.
Arsenal paid Real Sociedad around £60m for him in 2025 in a deal that was treated at the time as a coup. He was supposed to be the player Mikel Arteta built the midfield around, a controlling passer with 30 Spain caps who had been wanted by most of the continent. He has made 67 appearances in all competitions since, a modest return for that outlay, and the trend has been downward rather than up.
Who has been told
The list is not short. Atletico Madrid have joined Real Madrid and Barcelona in expressing firm interest in bringing him back to Spain. Bayern Munich and Borussia Dortmund have both been informed that he could move in the new year. Intermediaries have spoken directly to Chelsea about his situation, and Liverpool, who looked at him before, have been briefed too, though they are considered unlikely to go for it now given that the previous interest came under a different coaching regime.
Seven clubs being alerted is usually a sign that somebody representing the player is making calls rather than fielding them. That is not a criticism. A 27-year-old international who cannot get into the side has a short window to fix it, and January is the only one available before the end of the season.
How it went wrong
Two things squeezed him out. The arrival of Bruno Guimaraes in the summer sharpened the competition in central midfield considerably, and before that, the coaching staff had already promoted academy graduate Myles Lewis-Skelly ahead of him in the pecking order. Neither of those is a verdict on Zubimendi's ability so much as a verdict on what Arteta wants in that role right now.
Arsenal's hierarchy are said to be aware of how he feels, and reports suggest Arteta would reluctantly let him go. The club now have to work out the shape of any deal. An initial loan is one option if the financial terms work, though protecting a £60m investment is the stated priority, and a loan that ends with the player coming back no more wanted than he is today solves nothing.
What it says about Arsenal's window
None of this is happening because Arsenal are struggling. They are top of the Premier League, they have conceded five goals in nine games, and William Saliba has just returned to training to give Arteta more options than he can use. That is the backdrop: a squad deep enough that a £60m midfielder can become surplus inside a year and a half.
Separate reporting last month claimed Zubimendi already knows which club he will join when the window opens. That sort of line tends to be either entirely right or entirely invented, and there is no way to tell which until January. What is harder to argue with is the basic position. A player of his standing is not going to sit out a World Cup cycle year on the bench in north London, and both sides appear to have worked that out.
Transfer context: Martin Zubimendi, 27, joined Arsenal from Real Sociedad in 2025 for around £60m and has made 67 appearances in all competitions. He has yet to start a Premier League match this season. TEAMtalk, as reported by Goal, says Real Madrid, Barcelona, Atletico Madrid, Bayern Munich, Borussia Dortmund, Chelsea and Liverpool have all been alerted to his potential availability in January. Arsenal are said to be open to an initial loan if the terms protect their investment. Nothing has been confirmed by any of the clubs.
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