Barcelona, Real Madrid and Valencia are all fighting it out for Edu’s signature.
The Brazilian is out of contract in the summer and he looks unlikely to agree a new deal at Highbury.
The Gunners’ current offer falls short of the player’s expectations and he looks set to move on.
Manchester United have been strongly linked, but he looks set to move to Spain with Real, Barca and Valencia jostling for his signature.
A move in January looks distinctly possible and sources claim all three Spanish clubs are likely to agree terms within the next week or so.
“There is a lot of speculation about my future and I do not know which route I am going to take,” Edu told his own website.
“I know that Barcelona, Real Madrid and Valencia have shown an interest in me and I am satisfied that the three biggest clubs in Spain have an eye on me.
“But I cannot talk with anybody until January and I still have to fulfil my contract which finishes in May.
“There are several aspects to life I like here in Arsenal and today I am very well adapted in England – everyone knows how well I am in the club.
“But a challenge is always a cool thing; a new country, a new team that could give me the chance like Arsenal did. Now I have to wait until January to make the correct decision.”
The 26-year-old moved to Arsenal from Corinthians in 2001 for £6 million after complications over his passport were overcome.
Edu failed to settle when he first arrived at the club, but over the past 18 months he has emerged as a regular member of the first team and was called up to the Brazil squad.
His form has now meant that the Primera Liga’s best want him and it seems the lure of the Iberian peninsula will be too much to turn down.
