Mesut Ozil
Mesut Ozil does not want to extend his contract with ArsenalGetty

Arsenal midfielder Mesut Ozil has refused to sign an extension on his current contract with the Gunners and is set to leave after the end of the current season. The German signed from Real Madrid in 2013 but is disillusioned by the lack of major trophies over the past two seasons and wants to move to a club where he can win titles on a regular basis.

Spanish publication Marca suggests that Barcelona are watching the situation closely and may make a move for the player next summer, but will face competition from other European giants who have also received news of his availability in the market. The 27-year-old has been the stand-out player for the Gunners this season, making 16 assists, more than any other midfielder in Europe's top five leagues.

Arsenal have offered him a two-year extension on his current contract, which expires in 2018, but Ozil has reportedly refused to go into any sort of negotiation, causing panic in the hearts of the Arsenal faithful. Ozil has told Arsenal that he does not want to extend his contract and wants to move to a club which will fight for the Champions League title, something the Gunners have not done in over a decade.

Arsenal's only tryst with the Champions League was the 2006 final where they lost to Barcelona after going a man down in the opening minutes, when Jens Lehmann was sent off for obstructing a clear goal-scoring opportunity. The Gunners took the lead through Sol Campbell but failed to hold on as the Catalans scored two in quick succession in the dying minutes of the game.

In recent years, the Gunners have struggled to qualify out of the round of 16, stumbling in their last five attempts and progression looks unlikely this year with defending Champions Barcelona blocking their path yet again. Should the Gunners fail to keep hold of Ozil, it will be a massive blow to Arsene Wenger and their title hopes for the coming seasons, especially when the German had started to bed himself into the Arsenal philosophy.