Reports: Arsenal to re-open talks with Mesut Ozil about terminating his contract

Arsenal are ready to re-open talks with attacking midfielder Mesut Ozil over ripping up his £350,000 per week contract before the January transfer window, according to the Daily Mail. The German is, however, holding out for almost £13 million to part ways with the club.

Arsenal reportedly approached Ozil about reaching a settlement for the remaining nine months of his contract over the past two weeks, but have failed in their attempts to do so.

The German is currently Arsenal highest-paid player, with a salary of £350,000 per week. He has failed to make an appearance for the Gunners since football restarted post lockdown, having fallen out of favour under Mikel Arteta.

Arsenal were keen to get rid of Ozil in the summer, but could not find any suitors for the 31-year-old due to his enormous wage bill. Ozil was linked with a move to Turkey during the transfer window, but the deal failed to materialise, due to which he will have to stay at Arsenal till his current deal expires.

Ozil, the highest paid player in Arsenal's history, hasn't played a competitive game for the Gunners since March...😬

— Sky Sports Premier League (@SkySportsPL) October 8, 2020

Arsenal are desperate to get Mesut Ozil of their wage bill

Arsenal FC v Olympiacos FC - UEFA Europa League Round of 32: Second Leg

Arsenal, like most football clubs, have experienced the negative financial effects caused by the coronavirus. The Gunners had to stick to a strict budget during the summer transfer window and spent only €40 million on new signings, until their deadline day capture of Thomas Partey for £45 million.

Arsenal were able to fund a deal for Partey by selling Emiliano Martinez to Aston Villa and loaning out the likes of Lucas Torreira and Matteo Guendouzi, which helped create space in the squad.

The Gunners are, however, desperate to reduce their wage bill by terminating Ozil's contract and have gone as far as leaving him out of their Europa League squad.

The signing of Partey will send Ozil even lower down the pecking order at Arsenal, making the prospect of him playing first-team football seem even more remote.

Mesut Ozil has been left out of Arsenal's squad for the Europa League group stage.The Gunners have now paid him £10.75m in wages since he last featured in any competition on March 7. pic.twitter.com/hOIoGTkP2h

— ESPN FC (@ESPNFC) October 8, 2020

It seems highly unlikely that Ozil will agree to an early exit from Arsenal before the transfer window re-opens in January, due to the problems football players face when they are without a club.

Arsenal are reportedly ready to make another offer to the 2014 World Cup winner, as they look to remove him from their wage bill in January.