Newcastle will have to come up with £10m to sign Kieran Gibbs.
According to a report in the Northern Echo Arsenal have named their price for the out of favour defender.
Shortly after winning promotion Newcastle were linked with Gibbs as Rafa Benitez put the emphasis in bringing in players with Premier League experience.
Arsenal are expected to significantly trim their squad over the transfer window with Arsene Wenger expected to channel his wage bill into an elite group of around 20 players.
With a year left on his contract Arsenal are ready to cash in on Gibbs who only started eight Premier League matches last season.
Watford and Brighton have both been linked with the 27-year-old with a deal expected in the next couple of weeks with clubs starting their pre-season matches.
Gibbs is resigned to the fact that his Arsenal days are over and is keen to get his future sorted to join his new club as soon as possible.
