The player has spent the season on loan at Derby, but Arsene Wenger is known to be a fan of the player. Lupoli himself however is hoping for a move back to Italy, although it is thought he might consider a move within England.
"The contract with Arsenal expires in June and there isn't an agreement for the renewal," he told an Italian newspaper.
"To remain I want guarantees, and I'm not referring to financial matters. I've accepted the loan to Derby because I know there is not space at Arsenal. Should it be up to me at this point, I'd like to come back to Italy. But there have been offers? Valencia and Liverpool have followed me. In Italy there are Fiorentina, Udinese and Napoli," he concluded.