Premier League - Papers: City target Van Persie
The in-form Dutchman has only 18 months to run on his contract and talks over an extended deal have broken down, leaving Arsenal vulnerable to a big offer.
Although Van Persie has scored 31 Premier League goals this year, Arsene Wenger may be prepared to part with him if he fears losing him on a free transfer at the end of next season.
Van Persie would replace Carlos Tevez, who is widely expected to leave the Etihad Stadium in January.
And the Argentine could be one of a huge number of departure from the club as they struggle to reduce salaries.
City posted a £195m loss in the last financial year, which leaves them in serious danger of flouting UEFA's Financial Fair Play regulations.
Largely to blame was the club's £174m wage bill, which exceeded turnover on its own.
City are looking to reduce a 63-man playing staff by around 20, according to the Sunday Telegraph.
Tevez's £10m-a-year salary would represent a significant reduction, but they are struggling to offload the Argentine.
AC Milan have opened talks over a £25m move for Tevez, but the Mail on Sunday claim the Serie A side are insisting on a series of rigorous psychological tests before they are prepared to do a deal.
Tevez was fined for refusing to warm up in a Champions League game against Bayern Munich, and has recently been AWOL in Argentina.
Another player on his way out of Arsenal, the Sunday Mirror claims, is Marouane Chamakh who is a £10m target for Paris Saint-Germain.
The Moroccan has scored just twice in 11 months for the Gunners, and his string of poor performances have seen him reduced to a fringe player.
Meanwhile, Tottenham manager Harry Redknapp has said he will not bring in any new players in January.
Spurs are third in the table after a run of nine wins in 10 games.
Redknapp goes on trial in January for two counts of cheating the public revenue, charges he denies.