The 19-year-old was chased by former club Saint-Etienne, who wanted him on loan, but the international transfer window closed without the move happening.
Saliba, who is still at the Emirates Stadium for the time being, could move to a Championship club with the domestic window open until 16th October.
The teenage centre-back is not included in the 24-man squad that Gunners boss Mikel Arteta has submitted for the 2020/21 Europa League group stage campaign.
The north London outfit feel the young defender needs a year of regular football and have two more weeks to find the player a loan club in the EFL.
Saliba arrived at the Emirates Stadium from Saint-Etienne last summer and was allowed to return to the French top flight outfit on loan to rack up first team game time.
But a curtailed Ligue 1 season along with a string of injuries prevented the centre-back from clocking up regular minutes.
Saliba is yet to make his debut for the Gunners, and has failed to be named in a Premier League matchday squad, with Arteta preferring the likes of David Luiz, Gabriel, Rob Holding and Kieran Tierney over the Frenchman.
Mesut Ozil and Sokratis have also been left out of the Europa League squad.
