The Arsenal star has entered the final season of his contract and is stalling on a renewal.

He can talk to other clubs about a summer transfer from January 1.

According to The Gambling Times, Bundesliga champions Bayern are ready to offer him a return to German football.

Ozil has been linked with a host of clubs amid speculation he will not extend his Arsenal deal.

Manchester United, Barcelona and Paris St-Germain are all reportedly interested.

The Gambling Times claim that Bayern are unlikely to be able to match their rivals’ offers.

But the opportunity to return to Germany could appeal to Ozil.

The 28-year-old last played in the Bundesliga for Werder Bremen in 2010 before moving to Real Madrid.

Despite the managerial uncertainty at Bayern, sporting director Mathias Sammer remains in charge of the club’s transfer business.

Ozil joined Arsenal from Real in 2013, signing a five-year contract.

He has scored 32 goals and provided 57 assists in 166 appearances for the Gunners.

Alexis Sanchez is also stalling on a new contract and Arsenal winger Alex Iwobi admits it would be a huge blow if both players were to leave.

Iwobi said: “When they are fit they are unstoppable. They are both capable of changing a game or a season.

“They have a big decision to make. But it would be a huge setback to lose them because from the stats you can see we do need them for their goals and assists.

“For a team like Arsenal, we need to be aiming for the top four and we need what they bring.”