The dilemma with Arsenal and any other team is that he was the captain at Arsenal and now he is not anymore which means that he could request to be sold to some other team, whereas we are going to see him not be the captain in whatever team he ends up going.
So, if he is not going to be captain in the team he goes, then why not stay at Arsenal and not be captain there right? Well, that is not how it works, if you are given the captaincy once and then taken away, that doesn't feel right and you feel like you are not going to be there for too long and you are not liked by the organization anymore and instead of being a person who lost captaincy in a team, it is better feeling to not have it at all in another team. I can see him going to Juventus, but Chelsea would be a lot better for him, he already played in EPL for so long and he could continue to do so at Chelsea as well.