Arsenal have announced that they have released Jorginho and Kieran Tierney ahead of their contracts ending at the end of the month, while Neto and Raheem Sterling will return to Bournemouth and Chelsea, respectively, at the end of their loan spells.
Gunners midfielder Thomas Partey is also out of a deal on June 30, but the North London club are in talks with him and will make an announcement once a decision is reached.
Discussions have been ongoing between Arsenal and the Ghana international star for a while, but both parties have been unable to reach a consensus on terms of a new deal.
As a result, Barcelona and Atletico Madrid are reportedly monitoring the situation and will not hesitate to pounce if Partey becomes a free agent in the coming weeks, with talks ongoing with his representatives.
Tierney is returning to Celtic after the 27-year-old agreed to a pre-contract with the Scottish Premiership club in January, while Jorginho is expected to join Brazilian top-flight club Flamengo.
Brazilian goalkeeper Neto made just one appearance for the North London club and they are looking to bring a quality cover capable of giving David Raya fierce competition.
Arsenal were linked with interest in Espanyol goalie Joan Garcia, but they have dropped out of the race for the Spaniard due to his release clause and it remains to be seen who they will now go for.
Sterling was unable to rediscover form despite making 28 appearances for the Gunners, weighing in with a goal and five assists, and manager Mikel Arteta will be looking to recruit a quality winger to replace him in the squad.
Arsenal need to upgrade in key positions this summer if they want to go one better next season in the Premier League title race after finishing second in the table for the third consecutive campaign, and sporting director Andrea Berta will hope to deliver.
