With the January transfer window close at hand, Arsenal are looking forward to revamping the Gunners' current squad. Boss Arsene Wenger feels it is time they cleared out a number of first team members who have little to offer.

Wenger is looking to make these changes as early as January and balance the books and make space for new additions in the squad. However, a new list has been chalked out that consists of players whom the Gunners can afford to let go owing to their current form.

Though the Gunners lost the likes of Cesc Fabregas, Samir Nasri and Gael Clichy last summer, yet Wenger is still showing hesitancy to spend large sums of money and has always been known for not showing much interest in the transfer window. This season, however, the scenario may change as Wenger knows the squad will have to prove themselves by bringing in silverware or at least finish in the top four of the Premiership.

Both Wenger and the Arsenal board will know that if the squad fails to finish in the top four of the Premiership this season, Wenger could be axed and a number of high profile players like Dutchman Robin Van Persie, Theo Walcott and Alex Song could look for a future in other major European clubs.

All the three players have less than 18 months on their contracts, according to a Caughtoffside report.

Here is the list of the seven players who may be on their way out:

Andrey Arshavin

arsenal.com:

arsenal.com: Andrey Arshavin

Manuel Almunia

arsenal.com:

arsenal.com: Manuel Almunia

Sebastian Squillaci

arsenal.com:

arsenal.com: Sebastien Squillaci

Vito Mannone

arsenal.com:

arsenal.com: Vito Mannone

Nicklas Bendtner

arsenal.com:

arsenal.com: Nicklas Bendtner

Carlos Vela

arsenal.com:

arsenal.com: Carlos Vela

Marouane Chamakh

arsenal.com:

arsenal.com: Marouane Chamakh