Stevenage can confirm Luke Freeman has been the subject of enquiries from Championship sides ahead of the January transfer window.
The club has so far been resolute in keeping the 21 year old winger, who Arsenal paid a rumoured £400,000 for as a 16 year old, believing he can one day play at the highest level.
Chairman Phil Wallace said, "Luke has been brilliant for us, but we are under water financially and if the right offer comes in for him and for us, we shall have to consider rebuilding without him.
"Due to the carryover of contracts from last season, our budget is the highest in our history and a good part of the overspend is invested in players that Graham Westley would choose not to have, given a choice. That would be manageable if our gates were rising, but we are 6 figures down on gate income over last season at the half way mark so it's hurting.
"But we're an optimistic lot at Stevenage and it would be a brave man that bet against us not enjoying a strong second half to the season"
Club record signing James Dunne, striker Dani Lopez and midfielder Robin Shroot are also expected to move in the January window as Boro rebuild the squad.