Post-January for the rest of this season:
Leno
Bellerin Holding Gabriel Tierney
Bissouma Partey
Brandt/Isco
Saka Aubameyang Martinelli
I'd try to get loans for Saliba, Willock, Nelson and Balogun, if the kid signs da ting, that is! And get rid of those that have zero utility: Kolasinac was a great start, Mustafi next, Cedric too, now that the Europa has gotten serious, Sokratis looks to be close to leaving, Luiz if he really has fallen out with Arteta, Özil by hook or by crook, and Willian if there's money on offer from the MLS or elsewhere. If terminating Ceballos' loan early means we can sign another midfielder then do that too, because he has been largely without use too.
In the summer I'd like to see the club look at David Raya from Brentford, if he is as good with his feet as has been reported and that is going to be an important quality for the keeper to have in the team Arteta's trying to build - Leno's distribution is solid but severely lacking in imagination and urgency, and I don't think he will improve upon it.
I'd sell one of Chambers or Holding, depending on who can generate the most money. Bellerin would be gone in a heartbeat if a good offer comes in. Maitland-Niles either takes the right back spot by summer time or he has to go if a club wants to pay us decent money for him, and I'm sure a PL club will.
Elneny and Xhaka have to go this summer, especially the latter because he sees so many minutes and will not react well to Partey displacing him in midfield.
Lacazette should be moved on in the summer too. He'll have a year left, will be 30 years old, and could still generate a decent sum. I'd sell Nketiah too because I think a club will pay us a good sum for him and I think Balogun is the bigger talent.
And the big call would be to cut our losses with Pépé. I like him and he clearly has tons of ability, but he's just not progressing and has instead become a far worse player in Arteta's more tactically demanding system. If a club out there would pay £40m for him, I'd take it. Saka has been a level above him for the whole season.