If he stays fits, the best option would be to loan him out to a club like Newcastle, and give them a option to buy him at the end of the loan for around 3-4m euro of if anyone wants to take over his current contract, 2 years left with a salary of 100k/week. That would around the 5m, he has around 49 weeks left on his contract so 100*49=4.900.000, so of someone is willing to take the contract would be the best for all three parts. He is still only 29, feels like he should be closer to 39 to be honest, so if he can stay fit he can play for att least 3-4 more years for team like Newcastle and he is far from the player we once thought he would would become, and he will never again play for Man UTD in a game that matters anything, but he is still as good as any of the CBs playing last year for team like Burnley, Fulham or Brighton - and they seem to be able to sell their them for 60m euro plus bonuses to midtable clubs. Only difference is that the Brighton CB is like 5 years younger and stayed fit both when he had a good spell during his time in Leeds, not sure he was as good as the hype around him was or if it was the fact that many football fans wanted Leeds back in PL because the matches bearing Leeds is something you can't get enough of, of the fact that Leeds has a very sympathetic manager, or the fact that that the top teams (no matter division) is supposed to have some star players so media usually picks 1-3 and make huge hype around them (the 60m euro Brighton defender, Kalvin Phillips and Bamford) to have something or someone to write about to sell newspaper. Last year Bamford had some great games, like the one against Liverpool, and Kalvin Phillips who is a decent player and should stay in Leeds.
Point is, Jones can replace the CB from from Brighton who is obviously worth 20m more then then the french dude (forgot his name now since we are talking about the future of English football - BEN WHITE) with only over 300 appearances for one the top 3 biggest clubs in the world where he won 18 major honours, including three La Liga titles, one Copa del Rey title, four UEFA Champions League titles and four FIFA Club World Cup title and the world club 2018.
The English "tax" you pay for players, as we did for Maguire is starting to get ridiculous, even if Varane is 4 years older and had one year left on his contract you can't say Arsenal and good business after Wenger left is something they can be proud of. Pepe for 85m euros, the guy scored 10 goals (4 in the 2 last games against the weakest teams in the PL). The season before that he they blamed his even worse season in him getting used to Arsenal, England and PLz which i can accept, but look at Bruno that we bought for 30m less and we should not even compare stats or their impact on their teams. Arsenal have spent more on Pepe and White then we did on Sancho and Varane, that is INSANE. Also Aubameyang stopped playing football or even care after he signed the biggest contract in Arsenals history at a age of 31 years, they knew he would loose 60% of his game as soon as soon as he starts to lose his pace, and players with his body type and fitness are built to sprint and when they start loosing the pace, it goes downhill very fast faster then his pace. I still have a feeling they couldn't afford loosing him, not for his football abilities but because they knew that he is the only big name left (and he did play really good for about 12-18 months) in the squad and what type of signal it would send out to all potential signings. He is somewhere around 375k and was paid less then 15% of that during his prime years in Dortmund. He earned 45k, 45k, 55k and 75k (averaging 55k/week) his last 4 years in years in Germany and was considered as on the best goalscoreses in Europe. Arsenal are also paying Thomas around 250k, Lacazette 180k, Willian 195k, Luiz had 160k last year And Pepe on around 170k. With those salary you would hope a clube performs better they did last year and to be honest i don't think they will improve at all, and if they don't, Saka will leave asap, probably to Liverpool as soon as they decide the sell Sane or Salah. Not to sure it was the best move to first not sell the club to Daniel Ek, who really promised to bring in good players and "make Arsenal great again* Then to invest almost 150m in first a guy who had one good season in the Ligue 1, then in a CB who has one good season in the Championships where his team was so dominant in 90 of the games he played in and one season in Brighton where he would never be valued 60m euros if he didn't have the Leeds season fresh in everybodys minds. Maybe 5 good and proven €30-35m players would make more of an impact by getting them at last back to top 6 then going all in on 2 very expensive not yet proven to be worthy those fees. I mean even if White will make awesome season, i don't see how it will change much for them. Him alone won't stop the attacking power we, Chelsea, Liverpool, City have built up, so the difference he will offer is whatever they will loose 3/4-0 o 2/3-0, that's how I see it.