The 21-year-old's deal expires at the end of the season and Gunners boss Arsene Wenger is keen on the Spaniard getting as much game time as possible
Arsenal midfielder Jon Toral will join Rangers on loan until the end of the season after his spell with Spanish side Granada was cut short.
The Spaniard is currently in Glasgow ahead of signing for the Scottish giants where he will undergo a medical tomorrow morning.
Toral's time at Granada, which included just six appearances for the club, was ended after Arsenal activated a recall option in the deal which took him to Spain.