After the Gunners’ Europa League final defeat to Chelsea, Unai Emery decided that the centre-back had to go.
Mustafi racked up a series of blunders last season, which partly contributed to costing Arsenal a top-four place.
Strengthening the defence is Emery’s priority after his team shipped 51 goals in the Premier League during the last campaign.
That was more than the likes of Everton, Leicester City and even 12th-placed Newcastle United.
Pundits and fans alike have long been calling for the club to ship Mustafi out.
And now it seems like the World Cup winner could finally be nearing an Emirates exit, with Turkey the likely destination.
According to Turkish publication Aksam, officials from Fenerbahce are due in London next week for talks over a one-year loan deal.
The club cannot meet the £25m asking price Arsenal have slapped on the defender, so a loan move is the most feasible option.
The report adds that should Arsenal be receptive, Fenerbahce will begins talks with Mustafi over personal terms.
Meanwhile, Emery is still hot on the heels of Saint-Etienne defender William Saliba and has reportedly seen an opening bid of £22.5m rejected by the French club.
Saliba enjoyed an impressive breakthrough season in Ligue 1, making 17 appearances and helping his side to a fourth-placed finish.
But Arsenal face competition from rivals Tottenham, who are also keen to bolster their back line and are reportedly impressed by the 20-year-old.
Spurs are also on the verge of completing the signing of Jack Clarke from Leeds after the winger underwent a medical earlier this week.
The Champions League finalists are still some way from agreeing a fee with Lyon for Tanguy Ndombele however.
“If I wait another 8 days, it will be €80m…Tottenham made us an opening offer worth €45m,” said Lyon president Jean-Michel Aulas.
“He is one of our best players. How much is he worth? I do not know, but not just €45m.”