Paris Saint-Germain are prepared to offer Julian Draxler in a part-exchange deal to sign Matteo Guendouzi this summer.
Guendouzi fell out-of-favour under Mikel Arteta during the final weeks of the previous season and reports have since emerged that he could be sold.
According to L’Equipe, the Gunners want around £32m for Guendouzi, but Les Parisiens are unlikely to meet the valuation for the midfielder.
Instead, it is reported that they could include Draxler as a makeweight to secure the services of the France Under-21 international.
Guendouzi has recently returned to first-team training, but it is unclear whether he will make the matchday squad to face Fulham in the season opener.
Similarly, Ozil has been involved in the training sessions in the lead-up to the London derby, which will start the 2020/21 Premier League campaign.
The former Germany international was involved in an indoor friendly against Aston Villa earlier this week where the Gunners lost by a 3-2 scoreline.