Delaying the contract extension is unsettling Arsenal officials Mesut Ozil.
The London club would not want to remain empty-handed after the next season, so they may take decisive steps next summer.
The Telegraph reports that the 'Gunners' are ready to listen to potential buyers' offers and then make a final decision.
The 28-year-old German is interested in clubs such as London's Chelsea, Turin's Juventus, or Manchester City.
Recently, Ozil stated that he would not oppose returning to Real Madrid, where he played from 2010-2013.