The Egyptian international has struggled to make an impact during his three year spell with the Gunners, but following the arrival of Unai Emery, his future looks even more bleak.
The 26-year-old has yet to make a Premier League appearance under the Spanish tactician and a move away from the Emirates Stadium in the new year looks to be on the cards.
Elneny only penned a new deal in March, but that was hammered out while Arsene Wenger was in charge, and Emery appears to have a different opinion.
The defensive midfielder will not be short of options though and reports are already suggesting that Leicester City will make a move as soon as the window opens.
The Foxes are ready to offer £15million for the player and Arsenal will be happy to do business at that kind of price.
Reports are rife that Arsenal have set their sights on Fornals and will use any money raised to fund a deal for the player.