Schalke want to sign Sead Kolasinac on a permanent transfer but a deal will be dependent on whether they survive relegation, the German side have confirmed.
Kolasinac, 27, joined his former club on loan until the end of the season at the start of January and he was immediately given the captain's armband and tasked with keeping the Gelsenkirchen-based side in the Bundesliga.
Schalke have only managed to win one game since Kolasinac arrived and are already planning for life in the second division.
In the event of relegation, Schalke have confirmed that they wouldn't be able to afford Kolasinac's salary even if he took a wage cut.
The left-back was close to joining Bayer Leverkusen on transfer deadline day earlier in the year but a move fell through and it was widely expected that he would leave in January or the summer, with his contract up in June 2022.
Bosnian international Kolasinac made 78 appearances and scored twice for Arsenal since arriving on a free transfer from Schalke, but found his game time limited this season due to the emergence of Kieran Tierney.
There is no obligation to buy included in the deal and football.london understands that Arsenal will be covering a portion of Kolasinac's salary due to the financial struggles Schalke are currently enduring.
The Gunners will be in the market for a left-back this summer to compete with Tierney after failing to strengthen the area during the January transfer window.
