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Arsenal chief executive Richard Garlick has not ruled out the possibility of highly rated academy products Myles Lewis-Skelly and Ethan Nwaneri being sold before the transfer window shuts. The Gunners could be pushed into raising money from their homegrown talents in order to finance further additions for Mikel Arteta’s squad.

Garlick has spoken about the futures of the Hale End pair, refusing to dismiss the chance of Lewis-Skelly and Nwaneri leaving the club this summer. Arsenal may have to sell before they can buy during the closing weeks of the transfer window. Arteta’s side have spent relatively modestly so far, with Christos Tzolis and Bruno Guimaraes arriving to strengthen their title-winning squad. Even so, the club are still looking to make more signings.

With the manager eager to bring in another defender to provide cover for William Saliba’s injury, as well as a new attacker, selling homegrown players could bring in substantial funds. At present, Nwaneri appears the more likely of the two to move on after being left out of the matchday squad for Sunday’s Community Shield victory over Manchester City.

Although Nwaneri was absent for the Community Shield win, Lewis-Skelly delivered an outstanding display in the centre of Arsenal’s midfield. The England youth international has since been linked with a £45 million move to two of Arsenal’s biggest rivals, Manchester United and Chelsea. In comments to the BBC, Garlick made it clear that the possibility remains open for both teenagers to leave.

“I think Myles has had a fantastic end to last season and he’s started this season really well and we are very very happy with him,” Garlick said. “Ethan’s had a great pre-season as well and it’s just a case of looking at what opportunities there are that will help both of those players in terms of their careers moving forwards but we are not actively looking at selling those homegrown players.

“If the right opportunity came up and it was right for them and it was right for the club then we’d obviously consider that.”

Despite the obvious readiness to approve a sale if the price and circumstances are right, Arsenal remain extremely proud of the work being done in their youth system. Both teenagers have regularly caught the eye of the first-team coaching staff during pre-season.

“We obviously believe in our academy and have been very successful with the players that have come through that academy, Myles and Ethan being two of those,” he added. “Everybody loves to see those homegrown players coming through and pulling on the shirt and contributing to the success of the team.

“It’s not something that we aim to just sell only homegrown players, as I say trading players is something that comes up all the time. There’s been a lot of speculation surrounding players. I can’t stop other clubs being interested in our players.”

Apart from their gifted academy youngsters, Arsenal are also working to reduce the size of the senior squad around the fringes. Gabriel Jesus, Fabio Vieira and Reiss Nelson are all being strongly backed to leave over the next fortnight. In addition, Gabriel Martinelli’s long-term future continues to be the subject of heavy speculation. If those senior players depart, it may ease the immediate financial need to sell either Nwaneri or Lewis-Skelly.