Galatasaray board member Abdurrahim Albayrak revealed that an agreement had been reached with Arsenal over the transfer of Lukas Podolski in January.
“We agreed terms with Podolski over the winter transfer window but the foreign player ruling made it impossible to complete the transfer,” Albayrak told Milliyet.
“When the transfer window opens again we will see what happens.”
The deal fell through due to the foreign player ruling but Albayrak underlined that a deal could be back on the table.
The current foreign player ruling allows five foreign players to be fielded at any one time in a domestic game. Süper Lig clubs are permitted to have eight non-Turkish players in their squad.
The new ruling will allow teams to play with 11 foreign footballers at once.
Podolski is currently on loan at Inter but has struggled for playing time under Roberto Mancini.
The World Cup winner has one assist in eight Serie A appearances since moving to Italy on loan from Arsenal over the winter transfer window.
The German international has 31 goals and 17 assists in 82 appearances for Arsenal.