Arsenal are going into this summer’s transfer window with a diminished budget after failing to reach the Champions League for a second season in a row.
It means the Gunners will only have £45m to spend as Unai Emery plots a way back into the top four.
As a result, the Emirates outfit have been priced out of moves for top targets including Wilfried Zaha, Nicolas Pepe and William Saliba.
However, Emery has been told by chiefs that the transfer budget can be raised by selling players – although there is one man the Spaniard is desperate to keep hold of.
Torreira sparked rumours that he is looking to return to Serie A after just one season in the Premier League after comments he made.
The Uruguayan said he missed life in Italy and had yet to settle into life in London.
AC Milan have been hugely interested in snapping up the 23-year-old, who recently hired his old Sampdoria manager Marco Giampaolo.
The San Siro side even made a bid of what is believed to be around £35m for the midfielder but it was rebuffed.
And Emery’s fears over losing Torreira have started to subside after Italian football journalist Alfredo Pedulla revealed that Milan are looking elsewhere.
Instead, the Rossoneri will pursue Denis Praet, who has long been on Arsenal’s radar.
The Belgian, who also counts Giampaolo as a former coach, was reportedly subjected to a £44m double bid involving Sampdoria team-mate Joachim Andersen from the Gunners.
Arsenal have yet to make any signings this summer but there are areas in need of immediate surgery.
Emery has demanding a defensive reshuffle with a left-back, centre-back and potentially a right-back in his sights.
It has led the north London club to identify Kieran Tierney of Celtic, who is adept at playing all three positions.
But the Hoops are demanding a fee in the region of £25m-£30m and Arsenal are reluctant to spend a sizeable chunk of their budget on one man.