Malaga midfielder Jeremy Toulalan, a reported summer transfer target for Arsenal, admits he does not know what the future holds as the threat of a European competition suspension looms large over his Spanish employers.

Los Boquerones could be banned from next season's Champions League if they are unable to repay their outstanding debts, having spent £55 million net last summer - more than Barcelona and Real Madrid outlaid during the transfer period.

According to the Daily Express, Arsenal are monitoring developments at Malaga and could make a move for Toulalan should the Primera Division club be required to balance their books come the end of the season.

Arsenal have already once taken advantage of the dire financial straits at La Rosaleda, having claimed the signature of Santi Cazorla in a cut-price deal, and Toulalan is unsure if he will follow a similar path to his former teammate come the summer.

"I don’t know what will happen," the 29-year-old France international told L'Equipe.

"People talk about Malaga’s financial problems, but after Real Madrid and Barcelona they are the Spanish club that pays its players the best.

"I have everything here. There is real quality of life, we play in the Champions League and I have a very good relationship with the coach.

"I don’t know what my future will hold, but every day I have fun going into training."

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