Liverpool have emerged as new favourites with Ladbrokes to sign Aaron Ramsey.
The Welshman signed for the Gunners from Cardiff 10 years ago, making him Arsenal's longest serving player, while he has also scored the winning goal in two of their last three FA Cup triumphs.
However, Ramsey's contract runs out at the end of the season and it is understood Arsenal have ripped up their latest offer.
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The Arsenal midfielder looks set to leave the club in January, or they risk losing him on a free transfer, and while AC Milan were shock favourites last week, the bookies have slashed odds on Liverpool from 5/1 to 11/4, putting them at the head of the market.
Milan are next in the betting at 3/1, while Juventus (7/2), Man United (5/1) and Chelsea (7/1) are the only teams priced shorter than 12/1 to make a move.
Alex Apati of Ladbrokes said: "It's looking increasingly likely Ramsey will leave Arsenal in January and the latest betting suggests Liverpool will swoop in and sign the Welshman."
Ladbrokes Latest Betting
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Aaron Ramsey Next Club
Liverpool - 11/4
AC Milan - 3/1
Juventus - 7/2
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Man United - 5/1
Chelsea - 7/1
Everton - 12/1
West Ham - 14/1
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Southampton - 16/1
Cardiff - 50/1
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