Arsenal are hoping to capitalise on the unfolding chaos at Manchester City by preparing a summer bid for Michael Johnson, the England Under-21 midfield player. Arsène Wenger, the Arsenal manager, is becoming concerned that Mathieu Flamini, who has partnered Cesc Fàbregas in central midfield for most of this season, has had his head turned by interest from abroad and will not be signing a new contract at the Emirates Stadium.

If Flamini leaves, Arsenal are likely to make Johnson their prime target. The North London club have asked to be kept informed of Gareth Barry's position at Aston Villa but fear that, even if the England player is made available for transfer, they would not be able to compete with the financial packages on offer from Liverpool and Chelsea, who have also expressed interest. Liverpool have been linked with Johnson, too, but Wenger's top target is Barry and favours a move for the 20-year-old.

The turmoil at City in recent weeks, with the likelihood that Sven-Göran Eriksson, the manager, will be sacked in the summer and the increasing involvement of Thaksin Shinawatra, the owner, in football matters, has left the club vulnerable. Micah Richards, the England defender, has missed the latter half of the season with a knee injury but would also be certain to attract big-money offers, unless the situation at City settles down. He was a target for Chelsea during José Mourinho's time in charge.

Flamini is often cast as little more than a holding midfield player, but that underplays his style. He likes to get forward and Wenger believes that Johnson, who has drawn comparisons to Steven Gerrard, could replicate that role in tandem with Fàbregas.

Flamini is free to talk to other clubs as his contract expires at the end of the season, with a deadline set by Wenger for him to agree a new deal running out yesterday. Flamini has been offered two improved contracts by Arsenal, the latest placing him in the second tier of players' salaries on £50,000 a week, but believes that he has been undervalued for some time. AC Milan are the favourites to sign Flamini and Umberto Gandini, the organisational manager of the Italian club, was in London yesterday to finalise their offer, but the France player may move to Juventus if Milan fail to qualify for next season's Champions League, a distinct possibility.

Either way, the 24-year-old may have played his last game for Arsenal as he has been out for three weeks with an ankle injury. Flamini is often cast as little more than a holding midfield player, but that underplays his style. The France international likes to get forward, and Wenger believes that Johnson, who has drawn comparisons to Steven Gerrard, could replicate that role in tandem with Fàbregas. Considering Wenger's record for good husbandry, the blow would be that there will be no money coming in from the departure of Flamini with which to finance the Johnson deal.

Time is not on Arsenal's side with Flamini, whose contract expires in the summer. He has been the subject of interest from Juventus, who are busily rebuilding after financial scandal in Serie A and already have qualified for next season's Champions League, AC Milan, who have not yet guaranteed their place in Europe's biggest club tournament, and Bayern Munich, who are on course to be the German champions.

Wenger set an April deadline for contract agreement and, if nothing is settled by today, it has to be presumed that Flamini will go and the process of luring Johnson will begin. With so much uncertainty, it is not be happening at a good time for City.

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• Graham Spiers