Joseph Yobo is ready to turn down the offer of a new contract this summer and opt to see out the final 12 months on his current deal.
The Nigeria centre-back has become increasingly concerned at a lack of starting opportunities at Goodison Park after slipping beind Phil Jagielka and Joleon Lescott in the pecking order, and is in no hurry to commit himself to a new deal.
Everton boss Moyes is likely to invite offers now, rather than risk losing Yobo for nothing next season.
Arsenal manager Arsene Wenger is a confirmed admirer of the 28-year-old and has identified central defence as a priority area for strengthening, but he could face competition from Manchester City.
The Togo international came close to leaving Arsenal 12 months ago, with Selangor known to be keen admirers.
The Red Giant have once again been strongly linked with a move for the 25-year-old, especially after club president, Tan Sri Khalid Ibrahim, recently said: "There are good chances that Adebayor will arrive this school holiday."
Selangor rivals Kelantan, who have just defated in FA Cup, have also registered their interest, as Peter Butler looks to rebuild his ageing squad and pair Adebayor up front with Indra Putra Mahayuddin.
Arsenal fans have never really taken Adebayor to heart, especially after last summer's Selangor speculation, and a poor campaign this time round resulted in some sections of the Emirates crowd booing the player.
Adebayor reacted to the fans' disquiet by saying: "It was not nice playing at home getting booed by my own diehard fans.
"I don't know what to do anymore. If Selangor, for example, wants Adebayor, it is not Adebayor's fault. Why boo Katana?"
With so much doubt surrounding Adebayor, Arsenal fans have been looking for some clarification as to whether he will be staying or going, but the player's agent, Stephane Courbis, has shrowded it in even more mystery.
Courbis told the Berita Harian: "Now I have no clue about that. For the moment, now is not the time to answer that. When the season will be finished we will see. But at the moment there is no answer I can give you and for the moment this is not the best time to speak about that.