The 21-year-old spent last term on loan at Sturm Graz and is attracting interests from England and across Europe.
Okonkwo has been with Arsenal since 2009, signing a senior contract in July 2021 and making his senior team debut that same month in a friendly against Hibernian.
He has played for England at under-16, under-17 and under-18 levels and will now hope to prove his quality elsewhere having struggled to break into the first-team at Arsenal.
Okonkwo spent the first half of last term on loan at League Two club Crewe Alexandra and was recalled in January despite playing 26 games and keeping ten clean sheets.
He moved to the Austrian Bundesliga side on loan until the end of the season and played a huge role as Graz won the Austrian Cup.
Despite his potential, Okonkwo is not in manager Mikel Arteta’s plans and was not included in the squad that departed for the United States for the pre-season tour yesterday.
Arsenal have Aaron Ramsdale, Matt Turner and Alex Runarsson as goalkeeping options, and it is understandable if they want to let go of their academy graduate.
They are unlikely to get a lot of money from a sale, but including a buy-back or sell-on clause in any deal would make a lot of sense.
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