The French defender, 32, is unlikely to agree terms with Arsenal as he wants a two year deal worth around £80,000 a week.
AC Milan and Lazio, meanwhile, will rival Arsenal and Tottenham for free agent Joe Cole.
Suitors: Cole (left) and Gallas are wanted in Italy
Arsenal and Manchester City are also interested in Ghana midfielder King Gyan Osei, 21, whose contract has expired at Fulham. Where next for Joe Cole? Sportsmail assesses the options in front of the clubless England internationalGallas spurns Greeks bearing gifts as Arsenal defender rejects PanathinaikosARSENAL FC