Arsenal boss Unai Emery showed a reluctancy to play Ozil in his starting XI throughout last season.
The German’s lethargic attitude towards defending didn’t fit in to Emery’s philosophy and he was a peripheral figure for much of the campaign.
Arsenal are loathe to fork out £350,000-a-week on an individual who, currently, is little more than a squad player.
The Gunners have placed a £30m price tag on the 30-year-old, but even that is not low enough to attract potential suitors, reports The Mirror.
Ozil was the subject of interest from Galatasaray, Fenerbahce and Besiktas but none of the clubs can afford to pay the asking price.
Arsenal forked out £42.5m to sign Ozil from Real Madrid back in 2013, but having seen his performances decline in recent years are now prepared to accept considerably less.
Ozil’s £18m-a-year wages are also proving a stumbling block in negotiations, especially given the playmaker is content to see out the remaining two years of his contract in north London.
The German’s new deal was one of the final acts of the Arsene Wenger era and serves to show the lack of forward planning made in many of his, and the club’s, decisions at that time.
Arsenal had already seen star man Alexis Sanchez depart with his contract dwindling down and wanted to make a statement, although it appears to have backfired.
The club are in need of a major overhaul, but lack the funds to do so and Emery is having to reshape his squad on the cheap.
That is why Ozil’s departure cannot come soon enough, with Emery looking to make the most of the summer transfer window despite Arsenal potentially being hit by a pre-tax loss of more than £50m.
Failure to qualify for the Champions League for a third straight season is beginning to manifest itself on Arsenal’s finances.
The lack of income from player sales is also beginning to hurt the club – Wenger, albeit unwillingly, saw the likes of Alex Oxlade-Chamberlain, Theo Walcott and Olivier Giroud leave for over £100m before he left.
Emery, in contrast, raised just £7m in player departures last season and has let Aaron Ramsey and Danny Welbeck leave for free in recent weeks.