The World Cup winner with Germany's current contract at the Emirates will run down after the end of the 2017/18 season. The Gunners' attempt to tie him down to a new deal has not taken shape.
Arsenal could lose Ozil and star forward Alexis Sanchez for nothing if they fail to cash in from their sales in the January transfer window. The former Real Madrid man has been attracting interest from the Catalan club and Manchester United, reports the Mirror.
Ozil has played under the Red Devils manager Jose Mourinho when the pair were at the Santiago Bernabeu. The Portuguese tactician is still believed to be interested in the player and is now looking at the option of bringing him to Old Trafford.
United will face competition from Barcelona in landing the German international. The La Liga leaders are willing to offer him £350,000-a-week ($466,742 per week) to complete a switch to Camp Nou after this campaign.
According to the Mirror, it is the same figure Ozil's representatives have been asking from Arsenal to renew his contract at the Emirates. However, a failure to agree on a new deal between the former Real star and his employers could see him leave for nothing next summer.
The playmaker can sign a pre-contract with Barcelona on 1 January, if Arsenal fail to agree an extension. It should be seen whether United can convince Ozil to join them or will he chose Ernesto Valverde's side over the 20-time English champions.
Ozil is not the only player whose contract at Arsenal runs down in 2018. Alexis Sanchez, who is a transfer target for Manchester City manager Pep Guardiola and Ligue 1 big spenders Paris Saint-Germain, will be a free agent after the end of this season.
Wenger has already admitted "it is possible" that both Ozil and the Chilean international could be sold in January. It should be seen whether Arsenal manager will allow Ozil to reunite with his former boss at United, if Mourinho makes an approach for him in the mid-season transfer window.