The 28-year-old only left the Liga club last summer for the Gunners but has struggled for game time making just two Premier League starts all season.
While Perez is believed to be happy in north London, he is frustrated by the lack of game time and is willing to move on in an attempt to see more first-team action.
Former club Deportivo are reportedly willing to take him on a season-long loan with Arsenal believed to be open to the idea of a temporary move.
Despite being reduced to a bit-part role at Arsenal, Perez has still managed seven goals in all competitions for the club and is popular among supporters.
He is thought to be hoping to be part of Spain’s W...