The Sun reports Gordon is open to leaving St James' Park at the end of the season, with the 25-year-old among the club's most valuable assets likely to attract major interest if Newcastle miss out on European qualification. He is Newcastle's top scorer this season with 17 goals.
Bayern Munich have been the most prominent European suitor, with Sky Germany reporting concrete talks between the German club and Gordon's representatives. Liverpool are also long-term admirers, and a return to his hometown on Merseyside would carry emotional weight. But Gordon's preference is understood to be London, which gives Arsenal a meaningful head start in any summer pursuit.
Arsenal are in the market for a new left winger regardless of the transfer landscape around Gordon. Either Gabriel Martinelli or Leandro Trossard is expected to depart to create space in Mikel Arteta's squad, and Gordon fits the profile of what the club is looking for — a goal-scoring wide attacker capable of operating at the highest level.
Newcastle's position is that Gordon is not for sale, and he remains contracted until 2030. However, sources have indicated the club may be forced to sell at least one key player if they fail to secure European football, given the financial implications. Bayern have been credited with offers in the region of £55-60 million, which Newcastle would not entertain — their asking price is understood to exceed £80 million.