Palace, Nottingham Forest, AFC Bournemouth, Everton and French side Marseille have all been mentioned as having varying degrees of interest in the 25-year-old.
Some outlets claimed Bournemouth were considering Nketiah as a Dominic Solanke replacement, before they swiftly signed Evanilson in a club-record deal.
After Bournemouth announced Evanilson, Nketiah was immediately linked to Forest, while other sources have recently reported Everton want him on loan.
Arsenal would prefer an outright sale – but they appear to be running low on options at the moment – with Forest seeming to be the only possible destination.
That’s because Palace are no longer involved in any form of club-to-club talks for Nketiah, according to The Athletic, despite claims the Eagles still ‘retain interest’.
To make matters worse for Arsenal, transfer expert Fabrizio Romano says Forest are strongly considering Santiago Gimenez as an alternative option to Nketiah.
Forest will only end up signing one striker – and after their first bid for Nketiah was rejected – they will continue negotiations for both him and Gimenez.
Should Forest decide to prioritise Gimenez, Arsenal could be left stuck with Nketiah, who has produced just 38 goals in 168 appearances for the Gunners.
Nketiah has three years left on his Arsenal contract and it is believed he wants to secure regular first-team football.
He came through the club’s famous Hale End academy but has never been able to truly cement his place in the Gunners XI.
Tim Sherwood issued a passionate defence of Nketiah last season and insisted the forward was good enough to play in any Premier League team.