The Sun newspaper claim that the Gunners are wary of interest in their star playmaker from the Bundesliga giants Bayern Munich.
Ozil has two years remaining on his current contract at the Emirates but the north London based club are hoping to tie him down to a new long-term deal.
However, the 27-year-old has declined the club’s advances for a second time stating that he wants to focus on this summers European Championship’s.
According to The Times newspaper Arsenal are willing to offer Ozil in excess of £200,000-a-week with the new contract.
Ozil was voted Arsenal player of the season and not only provided the most assists in the league (19) but also shattered the record for chances created (146).
The Arsenal playmaker is currently with the German national team preparing for the European Championships.