West Ham and Forest have made the first moves in the race for his signature following the opening of the transfer window last week, but it is believed that Brighton are also interested.
A well-placed source has told Football Insider that Arsenal value Nelson, who came through the club’s academy, at between £25-30million.
Any sale would go down as pure profit under Profitability and Sustainability Rules (PSR) in the London giants’ financial accounts.
Nelson joined the club as a nine-year-old before progressing through the ranks and into the first team but has struggled for game time since making the grade at senior level.
Nelson wants to quit Arsenal as West Ham and Nottingham Forest swoop
He started just once in the Premier League in the 2023-24 campaign and failed to register any goal contributions in his 15 league appearances.
The 24-year-old has also played senior football abroad while on loan with Feyenoord and Hoffenheim.
Nelson is under contract until June 2027 after signing a new deal at Arsenal in July 2023, and the club also hold the option to extend his deal a further 12 months.